SFST leads delegation to Shenzhen for 4th conference of Shenzhen-Hong Kong Financial Co-operation Committee (with images)
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The Secretary for Financial Services and the Treasury, Mr Christopher Hui, led a delegation to Shenzhen today (May 27) to participate in the 4th conference of the Shenzhen-Hong Kong Financial Co-operation Committee. The Committee conference today brought specific tactical significance versus the background that this year marks the start of the nation’s 15th Five-Year Plan with China hosting the Asia-Pacific Economic Cooperation (APEC) 2026 and both Shenzhen and Hong Kong holding associated APEC conferences.
The conference was co-chaired by Mr Hui and the Vice Mayor of the Shenzhen Municipal People’s Government and Director General of the Office of the Financial Affairs Committee of the CPC Shenzhen Municipal Committee, Mr Luo Huanghao. The Committee went over the most recent advancements of the monetary markets and monetary co-operation efforts in between Shenzhen and Hong Kong. It likewise checked out ideas on more improving the advancement of a collective market.
Mr Hui stated that Shenzhen-Hong Kong monetary co-operation has actually yielded worthwhile outcomes. Both cities have actually helped with the combination of fintech environments, supported Shenzhen business in listing in Hong Kong, and deepened co-operation in essential locations consisting of the advancement of a local gold community and green financing. Shared market gain access to plans consisting of Stock Connect, Bond Connect and Wealth Management Connect have actually been running efficiently, with a stable stream of user-centric cross-boundary monetary services released to boost public benefit. Shenzhen is getting ready for the hosting of the 33rd APEC Economic Leaders’ Meeting in November, while Hong Kong will hold the APEC Finance Ministers’ Meeting for the very first time in October. These 2 significant flagship occasions, kept in succession with complementary strengths, are set to create effective synergies. Hong Kong will continue to utilize the institutional benefits of “one country, two systems” and capitalise on its strengths as a global monetary centre to empower technological and development markets through monetary advancement and deepen Shenzhen-Hong Kong co-operation. He revealed the hope that both cities would continue to enhance the positioning of monetary guidelines and systems, let loose the capacity of “Finance+” to enhance the capability of the monetary sector to serve the genuine economy, drive top quality advancement of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), and collectively support Mainland crucial business in going worldwide.
Mr Luo stated, because the facility of the Shenzhen-Hong Kong Financial Co-operation Committee, the 2 sides have actually worked hand in hand and taken strong actions to advance monetary co-operation from affiliation to extensive combination, and from system facility to shipment of results, accomplishing advancements in several locations consisting of monetary market connection, cross-boundary capital circulations and regulative co-ordination. Looking ahead, Shenzhen will concentrate on innovation financing, even more improving connection, reinforcing fintech advancement, supporting business in going international, broadening wealth management, and developing a robust monetary danger firewall program. Greater efforts will be made to advance Shenzhen-Hong Kong monetary co-operation to a greater level, in wider locations and with higher depth.
Developed in June 2024, the Shenzhen-Hong Kong Financial Co-operation Committee combines main members from the monetary regulative bodies of the Central Authorities, Shenzhen and Hong Kong, along with market leaders in both locations as non-official members to offer insights on Shenzhen-Hong Kong monetary co-operation and the advancement of the GBA’s monetary facilities.
Today, Mr Hui and his delegation likewise participated in the 20th Shenzhen International Finance Expo and checked out the Shenzhen Park of Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (Hetao Zone). The delegation explored 2 Shenzhen business and the exhibit hall of the Hetao Zone to perform on-site assessments of the most recent development in the collective advancement of financing, innovation and development in between the 2 cities.