Core Insights - The People's Bank of China (PBOC) is actively supporting the development of the offshore RMB market in Hong Kong through various initiatives [1] Group 1: Financial Initiatives - In February 2025, the PBOC supported the Hong Kong Monetary Authority (HKMA) to launch a trade financing liquidity arrangement with a total scale of 100 billion RMB [1] - As of the end of September this year, nearly 30 billion RMB in transactions have been initiated under this arrangement [1] - The PBOC has normalized the issuance of RMB central bank bills in Hong Kong, with a cumulative issuance scale of 255 billion RMB across seven issues [1] Group 2: Market Development - The balance of central bank bills stood at 170 billion RMB as of the end of September, reflecting an increase of 30 billion RMB compared to the end of the previous year [1] - The PBOC is collaborating with relevant departments to promote the issuance of high-credit-quality RMB assets, such as RMB government bonds, in Hong Kong [1]