Siam Commercial Bank PCL., Hong Kong Branch
Hong Kong is one of the world's leading international financial centers, characterized by low taxation, no VAT and GST, no exchange controls or foreign currency regulations. Hong Kong has long been considered the southern gateway to Mainland China, a trading, and financial hub in the Asia Pacific. Hong Kong has concluded a Closer Economic Partnership Arrangement (CEPA) with Mainland China to facilitate access to Chinese market for Hong Kong based manufacturers and service companies. It opened up huge opportunities for Hong Kong businesses, allowing Hong Kong is by far the most significant financially and physically transit point for exports and imports to and from China. With the comprehensive renminbi financial platform, Hong Kong has become the global hub and offering a full range of renminbi activities, from renminbi trade settlement and foreign exchange trading. The renminbi bond pool in Hong Kong, or the dim-sum bond market, has since developed steadily and is also the largest outside China.