Hong Kong beefing up status as financial hub

Business leaders, lawmakers and academics in Hong Kong have thrown their weight behind the city's bid to seize opportunities arising from offshore yuan financing, Belt and Road fundraising, financial technology applications and the "finance-plus-technology" development model to strengthen its status as a world financial hub.

The key strategies were laid out in a resolution adopted at the third plenary session of the 20th Central Committee of the Communist Party of China in July.

The resolution pledged to comprehensively deepen reforms to advance Chinese modernization, while highlighting the need to elevate the Hong Kong Special Administrative Region's position as an international financial, shipping and trade center.