BOC Hong Kong: The budget proposal helps promote better financial services for the real economy and advantageous industries

Sun Yu, Vice Chairman and President of Bank of China Hong Kong (02388.HK), welcomed the new "Fiscal Budget." He stated that the measures proposed in the budget cover several key areas, including offshore RMB business, the development of the securities market and fixed income market, asset and wealth management centers, corporate treasury centers, and the international gold trading market. These measures will help attract more international funds to Hong Kong, enhance the liquidity of the local financial market, and further consolidate Hong Kong's important hub position connecting the mainland and international markets. In line with the national "14th Five-Year Plan," the budget will help promote finance to better serve the real economy and advantageous industries.

Sun Yu also pointed out that as the country promotes high-level two-way opening, the budget strengthens support for mainland enterprises to actively explore overseas markets based in Hong Kong, which will become an important driving force for high-quality economic growth in Hong Kong. In addition, the budget increases resource investment in the Northern Metropolis construction and improves the supporting facilities for industrial development and scientific research transformation, which will enhance new productive forces. The demand for diversified financial services will continue to increase, bringing new business growth opportunities for the banking industry