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Liu Yongqing, wife of President Hu Jintao, visited the Hong Kong Monetary Authority (HKMA) at the Two Hong Kong International Finance Center Saturday morning.

 

Accompanied by Selina Tsang, wife of Hong Kong Special Administrative Region (HKSAR) Chief Executive Donald Tsang, Liu viewed the information center of the HKMA, including an exhibition hall and a library.

 

Joseph Yam, chief executive of the HKMA, briefed Liu on the history of Hong Kong's financial sector, especially the development of the sector in the past ten years and the Renminbi business of Hong Kong-based banks.

 

He said that the central government's support is indispensable for the development of Hong Kong's financial industry, citing that the supplement to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), which was signed days before, has further eased restriction on mainland market access for Hong Kong's financial services. In addition, Renminbi bonds have been issued in Hong Kong recently, he added.

 

Established on April 1, 1993, the HKMA is the governing authority in Hong Kong responsible for maintaining monetary and banking stability.

 

President Hu and his wife arrived in Hong Kong Friday to attend the celebrations marking the tenth anniversary of Hong Kong's return to China.

 

(Xinhua News Agency June 30, 2007)