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| No.4 August, 2012 |
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Hong Kong - Australia dialogue on Renminbi trade and investment |
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 The launch of a private-sector led annual dialogue to consider how to capture opportunities opened up by the wider use of renminbi (RMB) in trade and investment among Mainland China, Australia and Hong Kong was announced at an RMB Cross-border Trade and Investment Forum recently held in Hong Kong.
The dialogue, to be facilitated by the Hong Kong Monetary Authority, the Australian Treasury and the Reserve Bank of Australia, will comprise representatives from the banking sector and firms participating in cross-border trade and investment.
 The dialogue aims to provide a platform for participants to explore building closer collaboration between Hong Kong and Australia on the development of offshore RMB business opportunities, with a particular focus on commodities-related trade and investment. It also aims at raising awareness amongst the Australian private sector of RMB business opportunities, including cross-border RMB trade settlement and RMB financing through the offshore RMB bond market, as well as enhancing financial-sector links between Hong Kong and Australia in relation to RMB business.
 The first dialogue meeting will be held in Sydney in 2013.
Hong Kong's Financial Secretary, Mr John C Tsang, said the initiative will be mutually beneficial to Hong Kong and Australia and is consistent with the Central Government's policy to support the use of the Hong Kong platform by parties from other places to settle trade and investment transactions in RMB.
The Chief Executive of the Hong Kong Monetary Authority, Mr Norman Chan, said, "Hong Kong provides a one-stop platform for corporates and financial institutions around the world to conduct a wide range of offshore RMB business. Building closer and stronger links between Hong Kong and Australia will facilitate the wider use of RMB in trade and investments."
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