ABSTRACT
Hong Kong's offshore RMB market was mainly promoted by policies. Its formation significantly depended on the policy orientation of the government of the Chinese mainland. The traditional financial center is located in the city, which is often called the City or Square Mile. There are Bank of England (BOE), the London Stock Exchange (LSE), the London Metal Exchange (LME), the Baltic Exchange, and more than 500 financial institutions and even more lawyers, accountants, and other professional firms in this small area. Markets referring to financial trading markets such as foreign exchange markets, bond trading markets, stock trading markets, and derivative product transaction markets are only in the narrow sense. In recent years, with the continuous economic growth in China, the overall strength of China's financial institutions has been enhanced continuously, which can be seen from the phenomenon that there are four Chinese commercial banks in the top ten biggest banks all over the world.
