Hong Kong is fostering high quality market development by promoting yuan internationalization and cross boundary capital flows, said Chief Executive John Lee Ka-chiu.<\/p>\n
The China Securities Regulatory Commission (CSRC) and the Securities and Futures Commission (SFC) announced a series of new measures to deepen further the practical co-operation and coordinated development of the two markets.<\/p>\n
The measures will support the development and cross boundary financing of enterprises in Hong Kong and the mainland, and further promote the connectivity between the two markets through deepening co-operation in indices, futures and exchange traded funds, Lee said.<\/p>\n
Hong Kong will continue to leverage its role in ‘bringing in and going global’, better integrating into and serving the overall development of the country, he said.<\/p>\n
The government will continue to enhance the competitiveness of the city’s financial markets to consolidate and elevate its status as an international financial center, while serving the country’s high-quality financial opening-up and contributing to the long term development of financial markets, he said.\u00a0<\/p>\n
The 10 new measures cover a wide range of areas including cross boundary listings, exchange traded funds, index co-operation, yuan-denominated futures products, streamlined applications for mainland professional qualifications, and strengthened financial regulatory co-operation, said Financial Secretary Paul Chan Mo-po.<\/p>\n
They will facilitate mainland and overseas investors to seize the enormous investment opportunities arising from the country’s steady and high-quality economic development and the building of a modern industrial system, while at the same time consolidating and enhancing Hong Kong’s function as a hub connecting the mainland market and global capital, Chan said.<\/p>\n
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