Hong Kong and Shanghai Forge Financial Collaboration at 2025 Lujiazui Forum.

SFST attends Lujiazui Forum to foster collaborative development of Shanghai and Hong Kong

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, attended the 2025 Lujiazui Forum and related events in Shanghai yesterday (June 18) and today (June 19). Addressing a seminar titled "Collaborative Development of Shanghai and Hong Kong International Financial Centres" today (June 19), he said that Hong Kong and Shanghaiare unlocking many more new opportunities for collaborative development with their positions as the country's "dual engine" financial centres, providing strong support for the country's "dual circulation" strategy. Mr Hui also met with relevant heads of financial institutions during his stay in Shanghai.

This year's Lujiazui Forum is themed "Financial Opening-up and Cooperation for High-Quality Development in a Changing Global Economy". Mr Hui attended the opening ceremony and plenary session of the Forum yesterday and addressed today's seminar where the Hong Kong Financial Services Development Council and the Shanghai Research Center for Financial Stability and Development jointly released a research report on the "Synergistic Development of Shanghai and Hong Kong as International Financial Centres in the New Era".

Speaking at the Plenary Session IV titled "Deepening the Cooperation between Shanghai and Hong Kong as International Financial Centers" yesterday, Mr Hui said, "Riding on the solid foundation of Stock Connect, mutual-market access between financial markets on the Mainland and Hong Kong has been expanding in scope and capacity. Programmes such as Bond Connect, the inclusion of Exchange Traded Funds into Stock Connect, and Swap Connect have been implemented. These programmes enhance not only the product offering for domestic and foreign investors but also the attraction for more capital influx into the capital markets of the two places, promoting long-term development of the markets.

"At the same time, Hong Kong needs to further enrich the offerings of its offshore Renminbi (RMB) market to facilitate the adoption of RMB by global market participants. To this end, we will step up efforts in four areas, namely enhancing offshore RMB liquidity, increasing products, improving infrastructure, and expanding new markets."

When talking about stablecoins and central bank digital currencies (CBDCs), Mr Hui pointed out that by utilising the innovative capabilities of private institutions, stablecoins are meant to create and implement new use cases for the digital economy with the integration of the financial system with the real economy. Hong Kong's stablecoin regulatory framework takes into account both innovation and systemic risk prevention, covering the establishment of a transparent reserve asset system, the introduction of independent third-party institutions for regular audits, and the establishment of risk assessment mechanisms. Separately, the Hong Kong Monetary Authority is currently engaging the industry to carry out initial exploration on wholesale CBDCs.

"In future, we anticipate closer collaboration with Shanghai in areas such as financial innovation and green finance to achieve synergy effects."

Yesterday morning, Mr Hui signed the Action Plan for Collaborative Development of Shanghai and Hong Kong International Financial Centres on behalf of the Hong Kong Special Administrative Region Government with Shanghai to promote collaborative development, with a view to furtherforming a "dual hub" landscape of the two financial centres of Shanghai and Hong Kong, for better promotion of the internationalisation of RMB, thus contributing to a joint effort to building the country into a financial powerhouse. The Action Plan covers a number of measures, including supporting the Shanghai Clearing House (SHCH) to strengthen co-operation with Hong Kong banks and offshore Chinese banks in Hong Kong, supporting Mainland banks and financial institutions headquartered in Shanghai to set up regional headquarters in Hong Kong, and pressing ahead with the linkage of the Faster Payment System in Hong Kong with the Internet Banking Payment System on the Mainland.

During his stay in Shanghai, Mr Hui also visited several financial institutions, including the Shanghai Gold Exchange, the SHCH, and the Shanghai Futures Exchange, and met with Deputy Chief Executive of the Bank of China (Hong Kong) Mr Wang Huabin, and the President of Bank of Communications, Mr Zhang Baojiang, to discuss and exchange views to explore opportunities and models for co-operation regarding matters such as promoting gold market development in Hong Kong, enhancement to the offerings of the offshore RMB centre, and fostering collaborative development with the Mainland in financial derivatives and futures markets.

Mr Hui will return to Hong Kong this afternoon.

SFST attends Lujiazui Forum to foster collaborative development of Shanghai and Hong Kong Source: HKSAR Government Press Releases

SFST attends Lujiazui Forum to foster collaborative development of Shanghai and Hong Kong Source: HKSAR Government Press Releases

SFST attends Lujiazui Forum to foster collaborative development of Shanghai and Hong Kong Source: HKSAR Government Press Releases

SFST attends Lujiazui Forum to foster collaborative development of Shanghai and Hong Kong Source: HKSAR Government Press Releases

SFST attends Lujiazui Forum to foster collaborative development of Shanghai and Hong Kong Source: HKSAR Government Press Releases

SFST attends Lujiazui Forum to foster collaborative development of Shanghai and Hong Kong Source: HKSAR Government Press Releases

SFST attends Lujiazui Forum to foster collaborative development of Shanghai and Hong Kong Source: HKSAR Government Press Releases

SFST attends Lujiazui Forum to foster collaborative development of Shanghai and Hong Kong Source: HKSAR Government Press Releases

Update on chikungunya fever

The Centre for Health Protection (CHP) of the Department of Health announced that as of 5pm today (December 28), the CHP has recorded one new imported case of chikungunya fever (CF).

Latest case information

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The case involves a 35-year-old female living in Kwai Tsing District. A preliminary investigation revealed that she joined a package tour to Zhaoqing in Guangdong Province with family members from December 20 to 21, and had suffered mosquito bites in rural areas there. She developed joint pain on December 25, followed by rash on the following day, and a fever yesterday (December 27). She attended the Accident and Emergency Department of Princess Margaret Hospital on the same day and was admitted for treatment in a mosquito-free environment. She is now in stable condition. Her blood sample tested positive for the chikungunya virus upon laboratory testing.

The patient has three household contacts, who joined the same package tour to Zhaoqing. They are currently asymptomatic and under medical surveillance.The CHP will proactively contact the remaining 39 individuals who joined the same package tour, and provide health advice and medical surveillance to them.

An epidemiological investigation showed that her residenceand usual activity areas do not overlap with those among imported or local cases recorded inthe pastmonth.She did not visit the Tsing Yi Nature Trails during the incubation period either. As the patient visited Guangdong Province during the incubation period, and no epidemiological linkages have been established between thecase and other cases recorded in Hong Kongin the past month, the CHP considered that the case was infected duringhertravel. The caseisclassified as imported. The CHPwillreport the cases to the health authority of Guangdong Province.

Hong Kong has recorded a total of 82 confirmed CF cases this year. Among them, 11 were local cases, and the rest were imported cases.

Government's comprehensive follow-up actions

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Given that some local cases of CF have visited the Tsing Yi Nature Trails or the surrounding area in November, the trails are currently closed until further notice. Relevant government departments continue to conduct large-scale mosquito control and prevention efforts along the trails, the CHP appeals to the public not to enter the area in order to reduce the risk of contracting CF and to avoid exposure to chemicals or interfering with the mosquito control operations. Since the confirmation on December 10 of a case involving a person who had visited the Tsing Yi Nature Trails on November 30, no further local cases have been recorded to date. The CHP continues to urge individuals who have recently hiked along the Tsing Yi Nature Trails to seek medical attention as soon as possible if they develop relevant symptoms and to call the enquiry hotline (Tel: 2125 2373), which operates from 9am to 6pm.

The Food and Environmental Hygiene Department (FEHD) has been continuously conducting intensive fogging operations to eliminate adult mosquitoes along the Tsing Yi Nature Trails and the surrounding area. At suitable locations, large ultra-low volume foggers have been deployed, and a robot dog is being put on trial to enhance operational effectiveness. The FEHD has also set up new mosquito trapping devices, cleared discarded containers and garbage that could cause stagnant water, and applied larvicide oil or larvicides in areas with stagnant water that cannot be removed immediately. The FEHD has been collaborating with the Kwai Tsing District Office, the Lands Department and the Drainage Services Department to strengthen efforts in eliminating potential mosquito breeding sites along the Tsing Yi Nature Trails. Pamphlets have been distributed to hikers in the area, urging citizens to be vigilant against mosquito infestations and take personal protective measures. The FEHD also held meetings of the interdepartmental task forces on anti-mosquito work across districts, to discuss the latest developments regarding the situation and plan accordingly to co-ordinate relevant departments and stakeholders in strengthening mosquito prevention and control measures in areas under their purview.

Continuously strengthening prevention and control

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The FEHD and relevant departments have comprehensively enhanced the mosquito control operations in Hong Kong since July this year, and this has continued. Among these, the FEHD has conducted vector investigations and targeted mosquito control operations against the imported and local cases. In light of the local case, the FEHD has immediately conducted follow-up actions, including:

carrying out intensive fogging in scrubby areas within a 250-metre radius of the relevant locations to kill adult mosquitoes;

carrying out inspections of the locations, removing stagnant water, applying insecticides and disposing of abandoned water containers every week with a view to preventing mosquito breeding; and

enhancing public education efforts through organising health talks, setting up mobile education stations, and distributing publicity leaflets.

The abovementioned measures will be continued. Furthermore, the Government will further enhance the mosquito control efforts in addition to the existing measures.

Preventive measures taken by the public

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Members of the public should use DEET-containing insect repellents or other effective active ingredients properly to prevent mosquito bites, but the following precautions should be taken when using them:

read the label instructions carefully first;

apply right before entering an area with a risk of mosquito bites;

apply on exposed skin and clothing;

use DEET of up to 30 per cent for pregnant women and up to 10 per cent for children (For children who travel to countries or areas where mosquito-borne diseases are endemic or epidemic and where exposure is likely, those aged 2 months or above can use DEET-containing insect repellents with a DEET concentration of up to 30 per cent);

apply sunscreen first, then insect repellent;

reapply only when needed and follow the instructions; and

in addition to DEET, there are other insect repellents available on the market containing different active ingredients, such as IR3535 and picaridin. When using any insect repellent, the public should follow the usage instructions and precautions on the product label.

The FEHD also appeals to members of the public to continue to stay alert and work together to carry out mosquito prevention and control measures early, including inspecting their homes and surroundings to remove potential breeding grounds, changing water in vases and scrubbing their inner surfaces, removing water in saucers under potted plants at least once a week, and properly disposing of containers such as empty cans and lunch boxes. The FEHD also advises members of the public and property management agencies to keep drains free of blockage and level all defective ground surfaces to prevent the accumulation of water. They should also scrub all drains and surface sewers with an alkaline detergent at least once a week to remove any mosquito eggs.

The public should call 1823 in case of mosquito problems, and may visit the following pages for more information: the CF page of theCHPand theTravel Health Service, the latestTravel Health News,tips for using insect repellents, and the CHPFacebook Page,Instagram AccountandYouTube Channel, and also theMosquito Prevention and Control dedicated pageof the FEHD.

Source: AI-found images