Belt and Road Initiative strengthens HK's position as offshore RMB trading hub

HONG KONG - Hong Kong's Financial Secretary Tsang Chun-wah said on Friday that Hong Kong's participation in China's Belt and Road Initiative will strengthen the special administrative region's position as an offshore renminbi trading hub.

The financial secretary said in a written interview with Xinhua that as an international asset and risk management center and multinational treasury center, Hong Kong has a wealth of experience and unique advantages for participation in the country's Belt and Road Initiative.

"There are many Islamic countries along the Belt and Road, I believe Hong Kong will play a key role in Islamic finance," said Tsang, adding that Hong Kong has twice successfully issued Islamic bonds which set examples for issuers and investors in local markets.

Tsang also said that he has asked Hong Kong Monetary Authority to establish an office to facilitate the financing of infrastructure projects and provide a platform for pooling the efforts of investors, banks and the financial sector to offer comprehensive financial services for various infrastructure projects.