Financial Secretary Paul Chan said on Sunday (Dec. 22) that the government will roll out more innovative products, systems and cross-boundary cooperation to boost the capacity and liquidity of the SAR's financial markets.
He was responding to comments from President Xi Jinping that both Hong Kong and Macao need to continue to expand global connections and enhance their attractiveness.
President Xi made the remarks when he attended the ceremony marking the 25th anniversary of the establishment of the Macao SAR on Friday.
Among other things, the President also said the SARs have to accelerate their integration into the country's development plan, and play an even better connecting role in the new development paradigm.
Writing on his weekly blog, Paul Chan said Hong Kong therefore needs to promote more innovation, such as allowing the mainland to connect with more new emerging markets, while strengthening cooperation with traditional markets.
"The higher liquidity and capacity of the Hong Kong market can better satisfy the fundraising needs of firms and organizations amid the geo-political situation and technological advancement," he said.
The finance chief noted that while the country is facing challenges such as protectionism and unilateralism, it remains unwavering in promoting policies for high-level bilateral opening up.
To this end, Chan said Hong Kong -- as "a super-connector and super value-adder" -- will be even more proactive in encouraging multilateral exchanges and cooperation.
He added that Hong Kong will join hands with what he called other brother cities in the Greater Bay Area to go on roadshows and seek foreign investment, and create more win-win business opportunities.
(Source: RTHK)
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