HKSAR Government welcomes new measures for further deepening co-operation between Hong Kong and Mainland markets
The China Securities Regulatory Commission (CSRC) and the Securities and Futures Commission (SFC) announced today (August 3) a series of new measures to deepen further the practical co-operation and coordinated development of the two markets, consolidating and enhancing Hong Kong's status as an international financial centre. The Government of the Hong Kong Special Administrative Region (HKSAR) warmly welcomes the measures.
The Chief Executive, Mr John Lee, said, "The series of measures announced today will support the development and cross boundary financing of enterprises in Hong Kong and the Mainland, and further promote the connectivity between the Hong Kong and Mainland markets through deepening co-operation in indices, futures and exchange traded funds. Under 'One Country, Two Systems', Hong Kong enjoys the unique advantage of having strong support from the motherland while being closely connected to the world. As an important bridge in our country's financial system, Hong Kong will continue to leverage its role in 'bringing in and going global', better integrating into and serving the overall development of our country. Hong Kong is proactively aligning with the National 15th Five Year Plan and is working at full speed to formulate our first five-year plan, fostering high quality market development by promoting Renminbi internationalisation and cross boundary capital flows. I sincerely thank the Central People's Government and relevant authorities for their staunch support for Hong Kong all along. The HKSAR Government will continue to enhance the competitiveness of Hong Kong's financial markets to consolidate and elevate Hong Kong's status as an international financial centre, while serving our country's high-quality financial opening-up and contributing to the long term development of our country's financial markets."
The Financial Secretary, Mr Paul Chan, said, "The 10 new measures cover a wide range of areas including cross boundary listings, exchange traded funds, index co-operation, Renminbi-denominated futures products, streamlined applications for Mainland professional qualifications, and strengthened financial regulatory co-operation. They will facilitate Mainland and overseas investors to seize the enormous investment opportunities arising from our country's steady and high-quality economic development and the building of a modern industrial system, while at the same time consolidating and enhancing Hong Kong's function as a hub connecting the Mainland market and global capital. These measures will further promote the coordinated development of the two capital markets on a more open, resilient and efficient basis. We sincerely thank the Central People's Government, relevant authorities and the Mainland regulators for their strong support for Hong Kong, and will work closely with relevant Mainland institutions to expedite implementation of the measures."
The CSRC and the SFC announced today a series of new measures for further deepening the practical co-operation and coordinated development of the markets of Hong Kong and the Mainland. The HKSAR Government and regulators will actively facilitate the implementation of the measures.
Source: AI-found images
