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Health chief meets GD delegation

Secretary for Health Prof Lo Chung-mau met a delegation led by Guangdong Provincial Medical Products Administration (GDMPA) General Director Jiang Xiaodong today, with both sides agreeing to further deepen collaboration in relevant areas.    Prof Lo said the Hong Kong Special Administrative Region Government expressed its sincere gratitude to the GDMPA for its staunch support for Hong Kong in the past, including the implementation of the initiatives of, among others, the measure of using Hong Kong registered drugs and medical devices used in Hong Kong public hospitals in the Guangdong-Hong Kong-Macao Greater Bay Area and streamlining of the approval procedures for Hong Kong registered traditional proprietary Chinese medicines (pCms) for external use to be registered and sold in the Mainland.   The Government and the GDMPA agreed at the meeting to further deepen collaboration on the regulation of Chinese medicines (CM), the formulation of Greater Bay Area Chinese medicine standards,
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Southbound bond trading date set

The Monetary Authority and the People's Bank of China issued a joint announcement today that southbound trading under Bond Connect will be launched on September 24.   Monetary Authority Chief Executive Eddie Yue said at a press conference this afternoon that the initiative marks an important milestone in the two-way opening up of the Mainland financial markets, noting that it will promote the vibrant development of the Hong Kong bond market and further consolidate the city's status as an international financial centre.   “Southbound trading will enable Mainland financial institutions to increase their allocation to offshore bond assets through Hong Kong in a convenient and secure manner.   “At the same time, it will provide an incentive for international financial institutions to strengthen their presence in Hong Kong, in order for them to provide better underwriting, trading, custodian and related services to southbound investors.   “In the long run, the launch of southbound trading will attract more Mainland capital to invest in the Hong Kong bond market and broaden the local fixed income investor base.”   Mr Yue added that under the initiative, issuers will have a greater incentive to issue bonds in Hong Kong and that will further enrich the product offerings of the Hong Kong bond market.   Southbound trading under Bond Connect will provide Mainland institutional investors with a convenient and secure channel to invest in the Hong Kong bond market through the connection between the Mainland and Hong Kong financial infrastructure services institutions.
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