China firms up its pro-Hong Kong reforms

The mainland's central government has put forth details on a vast policy package benefitting Hong Kong trade and finance, among others.

China has also confirmed plans for deeper regional cooperation between Hong Kong and the nearby Guangdong provbince, as well as making the island the central hub for RMB trade and investment, ahead of Hong Kong's approaching anniversary.

Here's more from BBVA:

China’s central government today revealed a new batch of policies to strengthen ties between Hong Kong and the mainland. The policy package covers several areas including trade, finance, education, technology, and tourism, as well as increased regional cooperation between Hong Kong and China's neighboring Guangdong province. Moreover, authorities pledged to undertake new initiatives to encourage foreign firms and individuals to conduct RMB trade settlement and investment through Hong Kong, although the relevant details have not yet been released. The details of the new policy package are expected to be announced when President Hu Jintao visits Hong Kong from June 29-July 1.

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