PBOC Governor Pan Gongsheng Backs Raising Hong Kong RMB Liquidity Pool to 500 Billion Yuan

People's Bank of China Governor Pan Gongsheng said he supports increasing Hong Kong’s funding arrangement for renminbi business to 500 billion yuan, according to Ming Pao. Pan also said the Bond Connect Southbound Trading scheme will be expanded in scale and scope, including raising the annual net investment quota to 800 billion yuan from 500 billion yuan. He made the remarks at the Hong Kong Fixed Income and Currency Summit and Bond Connect Forum, Bloomberg reported.