FSTB holds seminar to listen to policy recommendations from Chinese financial institutions on integration into overall development of country (with photos)

     The Financial Services and the Treasury Bureau today (June 9) held a seminar at the Central Government Offices to discuss with Chinese financial institutions in Hong Kong about the development strategies on integration into the overall development of the country. More than 20 leaders from Chinese financial industry associations, banks, brokerages, investment banks, funds and the insurance industry in Hong Kong came together to make policy recommendations on future market developments, in particular on how Hong Kong can better integrate into the overall development of the country.

     With the presence of the Permanent Secretary for Financial Services and the Treasury (Financial Services), Ms Salina Yan, and the Under Secretary for Financial Services and the Treasury, Mr Joseph Chan, the Director-General of the Department of Economic Affairs of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, Mr Sun Xiangyi, also participated in the seminar by video conferencing. Joining them were representatives from the Hong Kong Monetary Authority, the Securities and Futures Commission and the Insurance Authority. They listened to the insights shared by the participants. 

     Speaking at the seminar, the Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "We have organised this seminar out of regard for the unique position of Chinese financial institutions in Hong Kong. They can take advantage of their in-depth understanding of the Mainland market and make use of Hong Kong's platform as an international financial centre of the country to explore new markets, new business and new products. All the participants and representatives of the institutions here have made great contributions to the orderly opening-up of our country's financial market as well as the process of bringing in capital and enterprises, and also helping them to go global. They are reliable 'connectors' and 'initiators'.

     "Hong Kong has been playing a unique role in the integration and interaction of Mainland and foreign capital. The fruitful results of such development are indeed attributed to the Chinese financial intuitions' efforts to work alongside with us."

     Looking ahead, Mr Hui said the world is in the midst of unprecedented changes. He noted that as long as Hong Kong's market is large enough, maintains sufficient liquidity and has a rich diversity of participants, Hong Kong will continue to distinguish itself from many other markets, regardless of any changes in them.

     All the representatives of the Chinese financial institutions/industry associations in Hong Kong who participated in the seminar expressed their views on various issues, which included enhancing the positioning of Hong Kong under the National 14th Five-Year Plan, mutual access between the Mainland and Hong Kong capital markets, improving the financial infrastructure of Hong Kong, financial connectivity among the cities in the Guangdong-Hong Kong-Macao Greater Bay Area, and capitalisation of new opportunities under fintech and green and sustainable finance. Their recommendations will serve as important references for formulating future policies and development strategies.

Ends/Thursday, June 9, 2022
Issued at HKT 18:32