Secretary for Financial Services & the Treasury Christopher Hui today attended a seminar in Shanghai discussing the collaborative development of the Shanghai and Hong Kong international financial centres.
A 2025 Lujiazui Forum event, the seminar featured a research report, “Synergistic Development of Shanghai & Hong Kong as International Financial Centres in the New Era”, jointly released by the Hong Kong Financial Services Development Council and the Shanghai Research Center for Financial Stability & Development.
Addressing the seminar, Mr Hui highlighted that Hong Kong and Shanghai are unlocking many more new opportunities for collaborative development, with their positions as the country’s “dual engine” financial centres, providing strong support for the country’s “dual circulation” strategy.
On Wednesday, the treasury chief attended the Lujiazui Forum opening ceremony and plenary session.
Speaking at the fourth plenary session titled “Deepening the Cooperation between Shanghai & Hong Kong as International Financial Centers”, Mr Hui said the mutual-market access between financial markets on the Mainland and Hong Kong has been expanding in scope and capacity.
The programmes enhance not only the product offering for domestic and foreign investors but also the attraction for more capital influx into the capital markets of the two places, promoting long-term development of the markets.
“In future, we anticipate closer collaboration with Shanghai in areas such as financial innovation and green finance to achieve synergy effects.”
On Monday morning, Mr Hui signed the Action Plan for Collaborative Development of Shanghai & Hong Kong International Financial Centres, on behalf of the Hong Kong Special Administrative Region Government, with Shanghai.
The action plan covers various measures to promote collaborative development, including supporting Mainland banks and financial institutions headquartered in Shanghai to set up regional headquarters in Hong Kong, and pressing ahead with the linkage of the Faster Payment System in Hong Kong with the Internet Banking Payment System on the Mainland.
During his two-day trip to Shanghai, Mr Hui also visited the Shanghai Gold Exchange, the Shanghai Clearing House and the Shanghai Futures Exchange, and met Bank of China (Hong Kong) Deputy Chief Executive Wang Huabin and Bank of Communications President Zhang Baojiang.
During these engagements, discussioins were held to explore the opportunities and models for co-operation.
Mr Hui returned to Hong Kong this afternoon.
