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Risk assessment on RMB business by Hong Kong banks
2014-08-28
By Ba Shusong
Date: 2004/03/26
Abstract:
Under the progressive off-shore business model, blurry areas in management will emerge in given operations, which is not likely to create tangible risks in general. Co-operations on anti-money laundry between the mainland and Hong Kong need to be strengthened. It is believed that the RMB is not likely to replace HK dollar in circulation on the Hong Kong market at present time in view of the market situation. With the growing magnitude and business scope of off-shore RMB market in Hong Kong, the market will exert an increasing pressure on financial regulation in the mainland. Therefore, in the long-run, the study on the reform of Hong Kong financial system against a growing RMB circulation should be launched at an early date.
