Core Viewpoint - The Hong Kong Monetary Authority (HKMA) is launching a new "Renminbi Business Funding Arrangement" on October 9, replacing the existing "Renminbi Trade Finance Liquidity Facility" and implementing several optimization measures to expand the eligible uses of funds [1][2]. Group 1 - The first phase, starting on October 9, allows participating banks to use the new arrangement at a lower interest rate based on the Shanghai Interbank Offered Rate, eliminating the previous 25 basis points premium [1]. - The new arrangement will also enable participating banks to provide Renminbi trade financing services to corporate clients through overseas banking institutions within the same group, enhancing Hong Kong's influence in the offshore market [1]. Group 2 - The second phase, effective December 1, will include specific Renminbi capital expenditure and operating fund term loans as eligible business activities [2]. - The third phase, commencing on February 2, 2026, will introduce a third-party repurchase service arrangement under the Central Moneymarkets Unit (CMU), allowing participating banks to change collateral during the repurchase transaction period, transitioning from manual to automated operations [2].