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Shenzhen Mayor Mr Xu Zongheng arrived in Hong Kong today (April 12) for a two-day visit.
Soon after his arrival this morning, Mayor Xu paid a courtesy call on the Financial Secretary, Mr Henry Tang. Mayor Xu also had lunch with the Chief Secretary for Administration, Mr Rafael Hui. Hong Kong officials attending the lunch included the Secretary for Housing, Planning and Lands, Mr Michael Suen; the Secretary for Constitutional Affairs, Mr Stephen Lam, and the Permanent Secretary for Financial Services and the Treasury, Mr Kevin Ho.
Mr Hui said Shenzhen was Hong Kong's closest neighbour and the strengths of the two places were highly complementary. Following the trend of globalisation of world economy and regionalised competition, Hong Kong and Shenzhen both need to consider taking further steps in collaboration. The two sides have agreed upon the terms of reference of a joint study group regarding the proposed setting up of a new control point at Liantang. The study group will soon meet to consider relevant issues. The two sides will also step up co-operation in the areas of cross-boundary infrastructure, finance and science and technology.
Mr Tang said that Hong Kong and Shenzhen had been working closely in financial co-operation. Over the past few years, the Hong Kong Monetary Authority and the Shenzhen Branch of the People's Bank of China had worked together on the clearing arrangement for Renminbi (RMB) business in Hong Kong, and on many types of financial infrastructure linkages. The Hong Kong dollar and US dollar joint cheque clearing facilities, the Hong Kong dollar and US dollar cross-boundary Real Time Gross Settlement system links, and more recently the clearing of Hong Kong's RMB cheques are some good examples. Mr Tang said Shenzhen provided a good pilot site for further extension of such co-operation to other places on the Mainland in future.
Mayor Xu attended a seminar on Shenzhen-Hong Kong financial co-operation organised by the Shenzhen Municipal Government this afternoon. Hong Kong officials attending the seminar were the Secretary for Constitutional Affairs, Mr Stephen Lam, and the Permanent Secretary for Financial Services and the Treasury, Mr Kevin Ho.
Mayor Xu will meet with the Chief Executive, Mr Donald Tsang, and Chief Executive of Hong Kong Monetary Authority Mr Joseph Yam tomorrow. Other members of the Shenzhen Municipal Government delegation include Vice-Mayors Zhuo Qinrui and Chen Yingchun.
Ends/Wednesday, April 12, 2006
Issued at HKT 16:06
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