Chief Executive John Lee met Governor of the People’s Bank of China Pan Gongsheng today to exchange views on economic and financial issues.
Welcoming Mr Pan and his delegation to Hong Kong, Mr Lee said that the National 15th Five-Year Plan supports Hong Kong in consolidating and enhancing its status as an international financial centre. This includes strengthening its functions as a global offshore renminbi (RMB) business hub, an international asset and wealth management centre and an international risk management centre, as well as building a commodity trading ecosystem.
To proactively seize these major opportunities and promote high-quality development, the Hong Kong Special Administrative Region Government is preparing Hong Kong’s First Five-Year Plan.
Mr Lee highlighted that the Hong Kong SAR Government will continue to leverage Hong Kong’s unique advantages under the “one country, two systems” principle, enjoying strong support from the motherland while staying closely connected to the world. He added that the city will continue to promote mutual market access between Hong Kong and Mainland financial markets, facilitating the two-way flow of capital and enhancing the city’s global competitiveness.
Hong Kong ranks among the world’s top three international financial centres, and stands as the world’s largest offshore RMB business hub and cross-boundary wealth management centre.
Mr Lee noted that with the country’s support, Hong Kong has steadily expanded its offshore RMB business and enriched its product ecosystem. The city will continue to deepen collaboration with the Mainland to facilitate more efficient circulation of RMB funds in the offshore market, serving the country’s prudent advancement of RMB internationalisation.
Furthermore, the Chief Executive pointed out that the Hong Kong SAR Government is striving to build an international gold trading market. Key initiatives include establishing a local gold central clearing system to attract the storage, clearing and delivery of physical gold. This will drive related services such as trading, risk management, insurance, warehousing and logistics, gradually building a comprehensive gold trading ecosystem.
The Hong Kong SAR Government will continue to work alongside relevant Mainland authorities and the industry to take forward this work, improve gold market infrastructure and inject new impetus into financial market diversification, thereby contributing to the country’s development as a financial powerhouse, he added.
Financial Secretary Paul Chan and Secretary for Financial Services & the Treasury Christopher Hui also attended the meeting.