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Hong Kong-Taiwan Economic Co-operation Forum explores new opportunities in financial services (with photos)

     More than 250 economic and financial experts, academics and members of the industrial and business sectors from Hong Kong and Taiwan today (November 26) attended the 2015 Hong Kong-Taiwan Economic Co-operation Forum in Taipei to explore the economic development and business opportunities in financial services in the Greater China region. The forum also discussed how Hong Kong and Taiwan can enhance collaboration and develop new opportunities in the areas of mutual recognition of funds and financial technology.

     The forum was jointly organised by the Hong Kong Economic, Trade and Cultural Office (Taiwan) (HKETCO) and a Taiwan business magazine, Business Today, in association with the Hong Kong-Taiwan Business Co-operation Committee (BCC) and the Hong Kong Business Association in Taiwan (HKBA).

     In his welcoming speech at the opening of the forum, the Director of the HKETCO, Mr Rex Chang, said that the HKETCO has been promoting mutual co-operation in trade and economic affairs as well as cultural exchanges between Hong Kong and Taiwan since its establishment around four years ago. He noted that there is huge potential in the development of economic and trade co-operation between Hong Kong and Taiwan, especially in the field of financial services. He said he expected the forum could help representatives from the financial industry of the two places to understand more about such collaboration between the two places.

     Also speaking at the forum, the Chairman of the BCC, Mr David Lie, said that there is huge room for co-operation in the flow of people, goods and capital between Hong Kong and Taiwan. He added that Hong Kong is a major international financial centre and offshore Renminbi market, which has attracted Taiwan enterprises to list on the Hong Kong stock market and make use of Hong Kong's advantages to connect with the international markets. He expressed the hope that the financial industry in the two places could enhance communication and co-operation for achieving mutual benefits.

     The Chairman of the Taipei Foundation of Finance, Mr Sunny Chou, and the Honorary Professor Liu Mingkang of the Faculty of Business Administration of the Chinese University of Hong Kong, were also invited to speak at the forum. During the forum, financial experts from Hong Kong and Taiwan also shared their insights on mutual recognition of funds and financial technology. The Executive Director of the Securities and Futures Commission in Hong Kong, Ms Julia Leung, analysed the opportunities brought about by mutual recognition of funds in mutual access in Asian capital markets. She pointed out that mutual recognition of funds is an important measure after the launch of the Shanghai-Hong Kong Stock Connect and the Renminbi Qualified Foreign Institutional Investor between the Mainland and Hong Kong. The Chairman of Taiwan's Securities Investment Trust & Consulting Association, Mr Henry Lin, also explored the development in mutual recognition of funds and the co-operation between Hong Kong and Taiwan in the relevant area.

     Given the rapid development of financial technology, the Executive Director of the Hong Kong Monetary Authority, Mr Esmond Lee, introduced to participants the position and advantages, as well as the monitoring system, of Hong Kong financial technology, and the future co-operation with other cities in developing financial technology. In addition, the Chief Digital Officer of E. Sun Bank, Mr Bruce Lee, spoke on the future development of digital finance and marketing from different perspectives including technology, media and mega data.

     The Hong Kong-Taiwan Economic Co-operation Forum was held for its sixth time in Taiwan. It aims to enhance co-operation between different industries in Hong Kong and Taiwan with a view to developing business opportunities. The BCC and the HKBA were established in April 2010 in Hong Kong and August 2014 in Taipei respectively, and aim to provide platforms to facilitate business co-operation between Hong Kong and Taiwan.

Ends/Thursday, November 26, 2015
Issued at HKT 17:36


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