Hong Pizheng, chairman of the Hong Kong Association of Banks: no money outflow from Hong Kong

Hong Pi, chairman of the Hong Kong Association of Banks and Standard Chartered chief executive, said he hoped to develop more renminbi products and promote renminbi trade financing. (from Sina Finance Peng) January 22 Afternoon News The Hong Kong Association of Banks is meeting today to study the objectives and budget of this year's work, and the chairman of the Hkab, Hong Pizheng Hong Kong chief executive, said after the meeting that he hoped to develop more renminbi products and promote renminbi trade financing.　　He also believes that the Hong Kong dollar is still strong and that there is no sign of capital outflow. Hong Pizheng said Hong Kong's banking sector will vigorously develop renminbi business in two areas this year, including the development of more products, the increase in the renminbi's liquidity in Hong Kong, and attempts to promote trade finance and lending in renminbi business, so that companies use more renminbi in trade.　　He said that the banking association's "renminbi group" is very active and very close to the central government, such business will be the Hong Kong banking industry's main target this year. On the recent signing of the Memorandum of Financial cooperation, Hong Pizheng pointed out that the mainland and Hong Kong market and institutions are facing different investors, each have their own space, we should coordinate and cooperate to take advantage of the slow recovery in Europe and the United States after the financial crisis opportunities to work together to expand. "Asia has not had such a chance in the last forty or fifty years," he stressed. "As for Hong Kong's financial sector, Hong Pizheng that we should also seize this opportunity to develop futures, commodities, bonds and renminbi business to attract more talents."　　The Hkab also provides more financial intermediation services for mainland enterprises, as well as the focus of this year's work. The recent decline in Hong Kong dollar exchange rate, the market worried about the withdrawal of funds, but Hong Pizheng that "the Hong Kong dollar in the vicinity of 7.775 is still strong, 7.785 can be said to be weak", is the normal scope of financial activities. Hong Pizheng said that the city of Hong Kong, an open market, frequent capital flows, the current exchange rate fluctuations are mainly affected by the external, he did not see the signs of cash flow. (Peng from Hong Kong)