Hong Kong and Shanghai can contribute to the Belt & Road Initiative and Mainland China's financial reforms by deepening financial co-operation between the two cities.
Secretary for Financial Services & the Treasury Prof KC Chan made the statement at the seventh Working Meeting of Hong Kong-Shanghai Financial Co-operation in Shanghai today.
He said Hong Kong and Shanghai are the country's leading financial centres, and their co-operation should keep pace with the country's developments.
Prof Chan and Shanghai Municipal Government Financial Services Office Director-General Zheng Yang introduced the latest economic and financial developments in the two cities.
The meeting was also attended by financial regulators and exchanges representatives from Hong Kong and Shanghai.
They discussed the Belt & Road Initiative, the Shanghai Pilot Free Trade Zone, co-operation in cross-border renminbi business, securities, futures, insurance industries and financial technology as well as financial talent training and exchanges.
They agreed to encourage Shanghai’s financial institutions to conduct investment and financing via Hong Kong, and allow more Hong Kong securities companies to do business in Shanghai.
