Viral V. Acharaya, Itamar Drechsler, and Philipp Schnabl (2012), “A tale of two overhangs: the nexus of financial sector and sovereign credit risks,” Financial Stability Review, Banque de France, April 2012. 2. Viral V. Acharaya, Itamar Drechsler, and Philipp Schnabl (2015), “A Pyrrhic Victory? Bank bailouts and sovereign credit risk,” Journal of Finance, 69(6), 2689–2739. 3.
It will facilitate 1/2  BIS central bankers' speeches  interconnectivity among financial markets of the Mainland, Hong Kong and Macao and promote the two-way opening-up of China’s financial markets. Moreover, it will inject new vitality into the development of the financial sector in Hong Kong and Macao and drive the development of Hong Kong as an international financial center.