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The Under Secretary for Financial Services and the Treasury, Mr James Lau, today (July 14) met with 30 Shanghai post-secondary students under the Pilot Scheme for Cross-border Study Tour for Post-secondary Financial Talents, and encouraged them to grasp the exchange opportunity to better equip themselves for a future career in the financial industry.
Mr Lau said that with the gradual liberalisation of the Mainland market, there would be more co-operation opportunities between Hong Kong and Shanghai. The ˇ§Shanghai-Hong Kong Stock Connectˇ¨, announced in April this year, is one such opportunity. This innovative mode of co-operation will open up the Hong Kong and Shanghai stock markets and allow qualified retail and institutional investors of both places to directly engage in cross-boundary trading. This marks an important step in the two-way opening up of the Mainland's capital market and is a milestone for financial co-operation between the two places.
He said he believed that the Shanghai students would have more understanding of Hong Kong's financial, social and economic environment after completing the programme.
The participating students come from seven universities in Shanghai and they will stay in Hong Kong for four weeks. Apart from visiting the Financial Services and the Treasury Bureau, the Hong Kong Monetary Authority, the Securities and Futures Commission, the Commissioner of Insurance and the Hong Kong Exchanges and Clearing Limited, they will also visit local financial institutions and take part in attachment programmes.
Under the Memorandum of Understanding Concerning Advancing Hong Kong-Shanghai Financial Co-operation signed by Hong Kong and Shanghai in 2010, the two places agreed to strengthen co-operation in four areas, namely the development of the securities markets; the development of the bond markets; to encourage and support the mutual establishment of financial institutions; and the training and exchange of financial talents. The Financial Services and the Treasury Bureau, with the support of the Shanghai Municipal Government Financial Services Office, launched the pilot scheme in Hong Kong and Shanghai in 2012, attracting support and active participation from financial institutions and universities.
The scheme has been successful since its launch, with the participation of around 100 post-secondary financial students from Hong Kong and Shanghai. Both sides agreed to continue to organise study tours this year with a view to further promoting interaction and exchange among aspiring financial talents in Shanghai and Hong Kong. A total of 26 students from Hong Kong departed for the study tour in Shanghai in June. The students are now engaging in their four-week attachment programmes with financial institutions in Shanghai, and will return to Hong Kong this Saturday (July 19).
Ends/Monday, July 14, 2014
Issued at HKT 18:31
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