PBOC governor pledges to support Hong Kong's financial center status

China's central bank on Tuesday pledged to support Hong Kong's status as a global financial center.

The People's Bank of China (PBOC) Governor Pan Gongsheng said that the bank would continue to optimize cross-border renminbi (RMB) business policies, strengthen Hong Kong's role as an international asset management center and risk management center, and support the city's development as a financial technology hub and sustainable financial center.

Pan made the remarks at a high-level meeting jointly organized by the Hong Kong Monetary Authority and the Bank for International Settlements.

"We believe that with its outstanding advantages, favorable policy environment, and the hard work of the people of Hong Kong, Hong Kong's position as a global financial center will continue to consolidate and enhance," Pan said.

China will continue to promote financial market opening at a steady and prudent pace, Pan added.

China has become the world's second-largest bond market. Chinese A-shares and government bonds have been included in MSCI, FTSE Russell, Bloomberg Barclays, and JPMorgan Chase, among other global benchmark indices.

Foreign institutions currently hold 3.3 trillion yuan ($470 billion) in Chinese bonds, with an average annual growth rate of about 30 percent in recent years.

"We are actively responding to the needs of international investors and providing convenience for direct investment in China's financial markets," he added.

He also drew attention to the important role Hong Kong plays in China's financial market opening, adding that it has become a bridge connecting China's and the world's financial markets.

Pan also mentioned that The Stocks Connect programs have all been running smoothly and efficiently, providing international investors with more investment channels.