Hong Kong and mainland China took a step toward even greater financial integration, with the start of a cross-border investment program for individuals known as “Wealth Management Connect.”
The arrangement lets mainlanders in nine cities in the southern province of Guangdong buy investment products in neighboring Hong Kong and Macau, while individual investors in those two cities will be able to buy onshore products. The wealth link, launched Friday, forms part of China’s plans under President Xi Jinping
China is the biggest Dollars recycling center in the world, through HK. That is why HK is still relevant to China financial overall health. Without HK as one of the top offshore center, China economy kaput.
“deepened their financial integration” sounds so innocuous and business-like. It ain’t.
The Chinese pursue common perceptions and unity, while the Americans pursue diversity and hostility. Simple as that.
HONG KONG= CHINA!!!
Great job
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