Expect The Shanghai And Hong Kong To Cancel The 20 Thousand Yuan Exchange Limit Before Launching.

< p > the Hongkong Monetary Authority Chief Executive Chen De Lin told the Hongkong Legislative Council on the 5 day that the "Shanghai and Hong Kong Tong" will enhance the circulation of RMB. At present, Hongkong residents still have a daily exchange limit of twenty thousand yuan, which may not be enough to support investors to buy and sell stocks. It is time to cancel this restriction. The Hongkong monetary authority will discuss with the people's Bank of China to follow up, and expect to be implemented before the launch of Shanghai and Hong Kong.

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< p > < strong > the time limit for the cancellation of the 20 thousand yuan exchange limit is ripe < /strong > < /p >

< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > Chen Delin < /a > thinks that "Shanghai and Hong Kong Tong" is a major move to open up the mainland's capital market. It is very positive for the development of offshore RMB market in Hongkong. It is believed that it can enhance the circulation of RMB, and the investment of enterprises and individuals also has a way out. It is expected that Hongkong's RMB pool will grow healthfully.

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< p > "because the investment in Shanghai stock market needs to be paid in Renminbi, and the investor accounts need to retain more RMB for settlement. This will change more RMB in Hongkong, and then increase the pool of RMB funds."

Chen Delin said.

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< p > Chen Delin pointed out that the current RMB exchange rate ceiling of 20 thousand yuan will make Hongkong residents very inconvenient when investing. Now the relaxation of the ceiling is ripe. Therefore, the Hongkong monetary authority will discuss with the people's Bank of China to follow up, and expect to implement it before the launch of Shanghai and Hong Kong.

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< p > < strong > < a > href= > //www.sjfzxm.com/news/index_c.asp > RMB > /a > two-way fluctuation is favorable for healthy development of offshore market < /strong > /p >

< p > the recent RMB devaluation trend, Chen Delin pointed out that the recent fall in the renminbi reflects the two-way fluctuation of the RMB, which can promote sales and hedging, and is conducive to the development of offshore markets.

At present, Hongkong has both RMB spot trading and RMB forward trading, and the price is good. It shows that Hongkong's RMB hedging mechanism is good.

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< p > Chen Delin indicated that the RMB tends to be less than a href= "//www.sjfzxm.com/news/index_c.asp" and the two-way fluctuation is less than /a, which is conducive to the healthy development of the market.

Because RMB asset allocation only accounts for a small part of Hongkong's exchange fund, I believe it has little impact on Hongkong's exchange fund.

As to whether the depreciation of the RMB will affect the RMB hooked products launched by the bank, he said that investors have been buying and selling foreign exchange products for many years, because the exchange rate hooked products are not guaranteed products. Investors should pay attention to the rise and fall of the exchange rate, but compared with other currencies, the fluctuation of the renminbi is relatively small, and the potential risk is also small.

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< p > < strong > whether the property market will enter the downlink cycle still needs to be observed < /strong > < /p >.

< p > Chen Delin also pointed out that the current atmosphere of Hongkong's financial market is becoming more optimistic, but it may underestimate potential risks. He stressed that the Federal Reserve will continue to reduce its debt, but there is still uncertainty about the time, scope and pace of the interest rate hike. The normalization of the US monetary policy will create pressure on the capital flow of Xinxing market. With the increasing interest rate cycle, the interest rate and asset prices of emerging markets will bring greater risks.

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< p > in addition, for the property market, he pointed out that in the past, Hongkong has launched the six round of counter cyclical measures, which has been quite tight. If the property market has formed a downward cycle, it will gradually relax restrictions, but it is still necessary to confirm whether the property market will enter the downlink cycle.

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