The Expert Group on Hong Kong-Guangdong Financial Co-operation has held its first meeting in Guangzhou, deliberating on the strengthening of co-operation in areas including securities, banking, renminbi and insurance businesses.

Representatives of the two jurisdictions today discussed proposals to introduce more policies and measures which will be mutually beneficial to the development of financial industries in Hong Kong and Guangdong by leveraging on CEPA.

One of the focuses of the discussion was how to leverage on the model of early and pilot implementation to achieve mutually beneficial results, the Financial Services & the Treasury Bureau said.

Hong Kong wants to facilitate the "going out" of the Mainland's financial industry while ensuring national financial security by playing the role as a testing ground for the Mainland's financial reform.

The city wants to advance the financial industry development and the structural change in the economy of Guangdong through the framework of Hong Kong-Guangdong financial co-operation, the bureau added.