FS: Govt strives to enhance status of HK as international financial center

The Financial Secretary, Paul Chan finished his visit to Beijing on Wednesday evening (July 24) and returned to Hong Kong.

Chan and the group called on the leadership of various Central Authorities related to finance and financial services, including the Deputy Director in charge of routine work of the Office of the Central Commission for Financial and Economic Affairs and Director of the Office of the Central Rural Work Leading Group, Han Wenxiu; the Governor of the People's Bank of China, Pan Gongsheng; the Chairman of the China Securities Regulatory Commission, Wu Qing; and the Director of the State Taxation Administration, Hu Jinglin. During the meetings, Chan introduced the latest economic and financial situations of Hong Kong. He also highlighted the work and progress of Hong Kong in safeguarding financial security as well as promoting sustainable development in the fields of finance. They also discussed and exchanged views on various issues, including implementing measures to deepen mutual access between the Mainland and Hong Kong financial markets; promoting Renminbi internationalization in a steady, orderly and sound manner; promoting financial cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area; strengthening financial regulation and tax co-operation, and more.

Chan and the group also met with the Minister of Human Resources and Social Security, Wang Xiaoping. They exchanged views on how Hong Kong's capital market could promote the development of pension finance on the Mainland, and enhancing cooperation in such areas as talent flow and youth development between the Mainland and Hong Kong. The Chairman of the Mandatory Provident Fund Schemes Authority (MPFA), s Ayesha Macpherson Lau, and the Managing Director of the MPFA, Cheng Yan-chee, also joined the meeting.

Chan said, "I led a delegation comprising major officials in charge of the financial system to visit Beijing. We called on the Director of the Hong Kong and Macao Affairs Office of the State Council, Xia Baolong, and deepened our understanding of the spirit of the Third Plenary Session, which enables us to better plan and promote the work of advancing the city's economic development and prosperity. We also met with the leadership of finance-related Central Authorities to promote closer working relationships. During the meetings, we discussed the enhancement of financial and economic cooperation between the two places, and explored specific measures that would benefit the high-quality opening up of the country's financial markets and promote the development of Hong Kong's financial services. We are deeply grateful for our country's love and staunch support for Hong Kong, and to various Central Authorities for expressing their care and support to us. We hope to expedite the implementation of various measures with relevant Mainland organizations.

"Under the staunch support of the country and the leadership of the Chief Executive, the Hong Kong Special Administrative Region Government will do our best to implement the spirit of the Third Plenary Session of the 20th CPC Central Committee through solid work. We will strive for innovations and embrace changes amid the complex and volatile environment, promote better integration into the overall development of the country, and align with national development strategies. We will also strive to reinforce and enhance the status of Hong Kong as an international financial centre, and expedite the development of new quality productive forces, so as to make new and greater contributions to the Chinese Path to Modernisation, and achieve higher quality development for Hong Kong."