Hang Seng Bank Among First to Implement Offshore Renminbi Repurchases
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Hang Seng Bank has become one of the first banks to implement offshore renminbi repurchase agreements, launching on February 10. This initiative uses eligible onshore bonds under the Northbound Bond Connect scheme as collateral to enhance offshore renminbi liquidity. The move is part of new policy measures by the Hong Kong Monetary Authority and the People's Bank of China aimed at strengthening financial connections between Hong Kong and mainland China.
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