Hong Kong strengthens bilateral financial ties with Switzerland

A total of three MoUs were signed to boost financial cooperation between the two economies.

Hong Kong moves to strengthen its bilateral financial ties with Switzerland with the signing of three memorandums of understanding on January 23 at Bern, Switzerland.

According to a press release, the first MoU serves as the basis for regular financial dialogue in the areas of RMB internationalization, wealth management and infrastructure financing.

It was signed by Mr Norman Chan of the Hong Kong Monetary Authority and Mr Jörg Gasser of Swiss State Secretariat for International Financial Matters.

The HKMA and the Swiss Financial Market Supervisory Authority similarly inked a deal to enhance fintech collaboration between the two economies.

A third MoU was signed by the Hong Kong Private Wealth Management Association and the Swiss Bankers Association to accelerate the development of private wealth management in Switzerland and Hong Kong.