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As China has tightened regulations on the asset management sector to rein in risk lending, commercial banks are striving to make a transition in this business area, which is considered as an industry with high growth potential.
As billion is not a huge amount, it is more like a signal that the government expects to channel more capital inflows to support a strong Chinese currency and to maintain a stable foreign exchange reserve, according to Wu.
Article 23 of Hong Kong's Basic Law stipulates that the HKSAR shall fulfill its constitutional obligation to safeguard national security through local legislation.
Around 120 representatives from innovative science and technology enterprises, universities, law firms, and institutions of financial service and IP service participated in the forum.
As China promotes green development, clean energy－including wind, solar and nuclear power－is thriving in the country, reducing dependence on coal.
