*********************************************
The Financial Secretary, Mr John C Tsang, yesterday (October 8, Eastern Standard Time) started his visit to Boston and Washington.
In the morning, Mr Tsang paid a visit to the Massachusetts Institute of Technology Media Lab.
This was followed by a meeting with the Executive Vice President of the Federal Reserve Bank of Boston, Mr Jeffrey Fuhrer.
Later, speaking at a luncheon hosted by the Boston Economic Club, Mr Tsang highlighted three areas in which Hong Kong contributes to China's economic development, namely the internationalisation of the Renminbi, asset management and dispute resolution.
Mr Tsang also mentioned the Shanghai-Hong Kong Stock Connect, which is expected to be up and running soon. "This groundbreaking initiative will open up access between the Hong Kong and Shanghai stock markets. Eligible Mainland investors will be able to invest directly in Hong Kong's stock market, while Hong Kong and international investors will be able to do the same in Shanghai's stock market," he said.
Before concluding his visit to Boston, Mr Tsang held a meeting with the Governor of Massachusetts, Mr Deval Patrick.
Mr Tsang arrived in Washington, DC, in the evening. He had a brief meeting with the Founder and Former President of the Heritage Foundation, Mr Edwin Feulner, and attended a dinner hosted by the Heritage Foundation. He gave a talk on how the four aspects of economic freedom - the rule of law, limited government, free and open markets and regulatory efficiency - contributed to the enhancement of Hong Kong's market economy and our transformation into a world-class city for business.
On Thursday (October 9), Mr Tsang will have a number of meetings with US officials and senior executives of financial institutions. On Friday (October 10), he will attend the Annual Meetings of the International Monetary Fund and the World Bank Group in Washington, DC, as a member of the Chinese delegation.
Ends/Thursday, October 9, 2014
Issued at HKT 14:51
NNNN
