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Transport, Trade and Logistics Update
A new form of security following the declaration of general average (GA) has the market wondering if a real change has occurred.
Global | Publication | August 2024
On 19 April 2024, the China Securities Regulatory Commission (CSRC) published five cooperative measures on a high level basis relating to the Stock Connect and the Mutual Fund Recognition regimes respectively between mainland China and HKSAR. These measures have been or will be implemented by more detailed rules intended to further enhance HKSAR’s status as an international financial centre, and to promote the coordinated development of the two capital markets.
Some key highlights of these measures include:
Noting that this is not the first time that mainland China and HKSAR authorities have initiated measures to facilitate the various connects between both financial markets. Earlier in February 2024, revised rules governing the Cross-boundary Wealth Management Connect Pilot Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area (the GBA Wealth Management Connect) came into effect, which upgraded the GBA Wealth Management Connect regime to its version 2.0. Key developments include:
It is clear that, by upgrading the regimes for various connections between HKSAR and mainland China, the PRC central government aims to speed up the movement of funds (especially RMB) on a cross border basis and ultimately to promote RMB internationalisation to the next level.
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A new form of security following the declaration of general average (GA) has the market wondering if a real change has occurred.
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There is much talk currently about South Africa standing at a political cross-roads, in relation to its ability to make the newly formed Government of National Unity work (and to unlock the legion economic and social benefits that would flow from making it work).
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The Lloyd’s Open Form has been the maritime industry’s preferred form of agreement for salvage for over a hundred years. In response to industry concerns and the declining number of LOF contracts being concluded each year, an update to the Form was published in June this year.
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