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China, Hong Kong regulators partner on oversight of cross-border entities

The China Banking and Insurance Regulatory Commission signed a memorandum of understanding with Hong Kong's Securities and Futures Commission to cooperate on the oversight of cross-border entities, according to a June 8 release.

The two regulators will cooperate in the areas of investor protection, promoting the competence of cross-boundary regulated entities, fostering market and financial integrity, reducing systemic risk and maintaining financial stability.

Meanwhile, China's Silk Road Fund agreed on a strategic partnership with Kazakhstan's Astana International Financial Center and signed a framework agreement with Astana International Exchange to subscribe to a portion of common shares through the China-Kazakhstan Production Capacity Cooperation Fund Co. Ltd.

The cooperation is expected to help align China's Belt and Road Initiative with Kazakhstan's new economic policy and strengthen the two countries' bilateral ties.