SRF and HKMA establish BNR joint investment platform

On October 19, witnessed by Pan Gongsheng, Governor of the People's Bank of China and Administrator of the State Administration of Foreign Exchange (SAFE), Paul Chan, Financial Secretary of Hong Kong Special Administrative Region government, and Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA), Silk Road Fund (SRF) and HKMA entered into a cooperation framework agreement, collectively contributing 15 billion RMB or equivalent in other currencies to set up a Belt and Road joint investment platform. Leveraging on respective advantages in capital, information, technology and management, both institutions will jointly pursue investment opportunities, providing financial support for Belt and Road cooperation.

Under the joint investment platform, SRF and HKMA will jointly establish the BNR HK Flagship Impact Fund, with SRF as the general partner. Total amount of the first phase of the fund will be no more than USD 1 billion or the equivalent of RMB. The Fund will focus on investment opportunities in areas such as energy transition and infrastructure, and explore other ESG-related investment themes. Moreover, SRF will also explore investment cooperation with Hong Kong Investment Corporation.

Li Hongyan, Deputy Administrator of SAFE attended the signing ceremony.