In an effort to reduce reliance on US dollars, Southeast Asian neighbours launch new framework to facilitate corporate access to all three currencies in their local market
*Hong Kong launches fintech sandbox
*SFC designates CCPs for OTC derivative transactions
*PBoC to rule China’s bond market
*Korea opens world’s first Fintech Open Platform
*China outlines reserves rule for foreign bank FX trading
*GMFA objects to proposed Basel III revisions on cash pooling
*Singapore confirms steps against financial cybercrime
The Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA) both announced plans that could further open up the marketplace for offshore renminbi in Hong Kong.