Financial Secretary Paul Chan witnessed the signing of the Cooperation Framework Agreement between the Hong Kong Monetary Authority (HKMA) and the Silk Road Fund (SRF) in forming a Belt & Road investment platform in Beijing this morning.
Under the co-operation framework agreement, the HKMA and the SRF agree to form a Belt & Road investment platform, and intend to jointly contribute no more than RMB15 billion, or equivalent, in phases.
Additionally, the HKMA and the SRF will leverage their respective advantages in capital, information, technology and management to explore onshore and offshore investment opportunities, and provide financial support to the Belt & Road Initiative.
In the first phase, both sides will jointly form the BNR HK Flagship Impact Fund, with total capital not exceeding US$1 billion or equivalent in renminbi, which will focus on investing in projects in areas such as energy transition and infrastructure, and explore investment opportunities with environmental, social and governance-related themes.
Before attending the signing ceremony, Mr Chan called on People’s Bank of China Governor Pan Gongsheng. They exchanged views on issues such as the macro economic situation as well as the management and development of financial services.