Hong Kong and Shanghai Strengthen Financial Cooperation for Mutual Growth

The two cities will leverage their competitive advantages to boost financial cooperation.

Representatives from Hong Kong and Shanghai recently convened the ninth Working Meeting of Hong Kong-Shanghai Financial Cooperation, identifying areas for collaboration to strengthen the financial ties between the two cities.
During the conference, Hong Kong’s Secretary for Financial Services & the Treasury, Christopher Hui, emphasized the importance of enhancing Shanghai’s competitiveness and influence as an international financial center, while consolidating and enhancing Hong Kong’s position as an international financial hub.

Hui expects closer financial cooperation between the cities on various fronts, including the joint implementation of measures to further expand mutual access between the capital markets of the Mainland and Hong Kong.
Meanwhile, Shanghai’s Office for Advancing International Financial Center Development Director-General, Zhou Xiaoquan, stressed the importance of coordinated development efforts, urging both cities to enhance the financial core competitiveness of the Mainland.

Zhou noted that Shanghai and Hong Kong should realize capital and resource connections to jointly serve national strategies.
Both parties agreed to improve mutual market access programs and engage in exchanges and cooperation within the insurance industry.

They also plan to strengthen cooperation in product development, services, and innovation related to green finance, while encouraging enterprises to engage in green and sustainable financing, investment, certification, and the development of diversified financial products.
The participants also committed to enhancing cooperation among Hong Kong and Shanghai fintech enterprises.

In conclusion, the commitment of both cities to leverage their respective strengths and deepen financial ties. With a focus on enhancing competitiveness, expanding market access, and promoting innovation in green finance and fintech, Hong Kong and Shanghai are poised to drive mutual growth and contribute to the development of the broader financial landscape in the region.

Mayon Solutions Limited providing expertise and support to companies seeking to navigate these opportunities for growth and cooperation between the two cities.

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