Search

On October 13, Howard Lee, Deputy Chief Executive of the Hong Kong Monetary Authority, announced during a seminar that the People's Bank of China and the HKMA have agreed to formalize the "cross-border credit investigation connectivity" pilot program. Since its initiation last year, this initiative has enabled Hong Kong banks to utilize PBOC credit reports in approving more than HK$260 million in loans across various sectors including corporate lending, personal credit, and mortgage financing.

The daily quota for the Swap Connect between the mainland and Hong Kong has been raised from 20 billion to 45 billion yuan. Since its launch in May 2023, the program has seen over 80 trillion yuan in total trading volume.

On October 9th, the Ministry of Finance announced that it will issue RMB 11 billion of 2025 fifth-phase Chinese government bonds in the Hong Kong Special Administrative Region on October 15th. Specific issuance arrangements will be disclosed through the Central Moneymarkets Unit (CMU) of the Hong Kong Monetary Authority.

The General Requirements for Elderly Care Food has been adopted as a "Greater Bay Area Standard." This Hong Kong-led standard introduces a 9-level classification and unified testing methods to streamline production and ensure quality consistency in the silver economy sector.

The Ministry of Commerce and eight other departments of the Central Government have proposed 19 policy measures aimed at driving more service consumption in the mainland. The measures will cover the further opening-up of the mainland service industry, enhancing digital service consumption, and boosting fiscal and financial support for business entities in the service consumption field.

Nine state authorities, including the Ministry of Commerce, have proposed 13 measures aimed at boosting service exports from the mainland. The initiative will provide comprehensive policy support for service exports in the areas of taxation, finance and regulation. Measures include optimising the zero-tariff declaration procedure for service exports, facilitating the cross-border flow of personnel and boosting inbound consumption, and accelerating the development of the international data service business.

The State Administration of Foreign Exchange has announced nine policies aimed at making it easier for business entities to carry out cross-border investment and financing activities. The policies cover areas such as foreign direct investment (FDI) and corporate cross-border financing. In addition, the regulator will remove the requirement to register basic information for preliminary fees related to FDI and increase the quota for foreign debt borrowing by technology enterprises.

The People’s Bank of China has announced measures that will support the further deepening of mutual access between the financial markets of the Chinese Mainland and Hong Kong. The measures include supporting various types of offshore institutional investors to conduct repurchase business in the mainland bond market, expanding the list of Swap Connect dealers, and enhancing relevant management mechanisms. They also allow for increasing the daily quota of northbound trading through Swap Connect.

To advance new quality productive forces and build a high-level talent hub in the Greater Bay Area, Guangdong's Department of Human Resources and Social Security has released the "Talent Demand Directory for the Greater Bay Area (Mainland)". The directory supports the "One Million Talents Gather in Guangdong" initiative by facilitating strategic talent identification and allocation.

Guangdong is advancing the Greater Bay Area talent hub through the "One Million Talents Gather in Guangdong" initiative and institutional reforms. Focusing on AI and robotics, it is building a province-wide talent system to support high-quality development.

Guangdong has released guidelines for manufacturing and high-tech enterprises to apply for loan interest subsidies. Eligible loans obtained between May 1, 2025 and December 31, 2027 may receive up to 20 million yuan in annual subsidies per enterprise. 

Guangdong's foreign exchange authority issued QFLP pilot rules in September 2025, adding Hengqin as a new pilot zone. The policy introduces quota management, simplified forex registration and better cross-border currency conversion to facilitate investment and financing.

China's amended Food Safety Law, passed on September 12, takes effect on December 1. It introduces a license for bulk road transport of key liquid foods. Carriers must use dedicated containers and obtain a permit. Shippers and receivers must verify permits and container compliance. Containers must be clearly labelled and used exclusively for food, with penalties for violations.

As global investors increasingly seek renminbi-denominated products, Hong Kong's role as the world's offshore renminbi hub and risk management center is growing. With strong national backing, the government is deepening financial connectivity with the mainland. It is also expanding the range of renminbi investment and risk management tools to meet investor needs.

A recent HKTDC report on Greater Bay Area tech innovation and a related article with Guangdong Commerce Department highlight the region's rapidly growing biomedical market. Hong Kong's strengths enable collaboration with sister cities to better commercialize research, help mainland firms go global, attract foreign companies, and create mutual opportunities.