Beijing, December 20, 2016 — Chief Executive of the Hong Kong Monetary Authority (HKMA), Mr Norman Chan, and Chairman of The Export-Import Bank of China (EXIM Bank), Ms Hu Xiaolian, signed a Memorandum of Understanding (MoU) on co-operation in the facilitation of the investment and financing of infrastructure projects via the Infrastructure Financing Facilitation Office (IFFO) platform.
With EXIM Bank becoming an IFFO Partner in July this year and the signing of the MoU today, both parties will further strengthen co-operation in multiple areas including exchanging of information and best practices, advancing capacity building and facilitating infrastructure financing transactions, to jointly promote beneficial developments of infrastructure investment and financing in Hong Kong and the Belt and Road Initiative.
Hong Kong possesses advantages as the largest offshore Renminbi (“RMB”) business centre and international financial centre, EXIM Bank will continue to explore offshore infrastructure investment opportunities through the Hong Kong platform.
Mr Norman Chan said, “The signing of this MoU marks the beginning of strengthened cooperation between IFFO and EXIM Bank in multiple areas. It reflects our joint commitment to further developing the infrastructure financing market in the region through the Hong Kong platform.”
Ms Hu Xiaolian remarked, “As a state-owned policy bank that supports international economic cooperation, EXIM Bank has given full play to its advantages as a policy financial institution to support infrastructure development. The Bank is ready to take the signing of the MOU as an opportunity to further deepen cooperation with HKMA and IFFO. By leveraging on the important role of Hong Kong as an international financial centre and IFFO as a platform, the Bank is ready to work with all parties to facilitate infrastructure projects under the Belt and Road Initiative to achieve mutual development.”
As part of the HKMA, IFFO’s mission is to facilitate infrastructure investments and their financing by working with a cluster of key stakeholders. The functions of IFFO are:
By establishing IFFO, the HKMA can play a valuable role as a catalyst in the facilitation of infrastructure investments and their financings with its mandate to promote Hong Kong as an international financial centre.
For more information about IFFO, please visit http://www.iffo.org.hk.
About EXIM Bank
Founded in 1994, the Export-Import Bank of China is a policy bank under the direct leadership of the State Council. The Bank’s main mandate is to facilitate foreign trade and investment, play a major role in ensuring steady growth, making structural adjustment, supporting foreign trade and implementing the “going global” strategy, and promote the sustainable and sound development of the national economy.
HKMA Infrastructure Financing Facilitation Office
Export-Import Bank of China
20 December 2016