The 17th Plenary of the Hong Kong-Guangdong Co-operation Joint Conference was held in Guangzhou today.
At a press conference after the meeting, Chief Executive CY Leung said the basic achievement of liberalisation of trade in services between Hong Kong and Guangdong is set to be met within this year.
It will be a step forward to achieving the goal of further liberalisation between Hong Kong and the rest of the Mainland next year, he added.
Mr Leung said the meeting has reviewed achievements since the last meeting and exchanged views on the directions for future co-operation, particularly in financial development.
He said, in the past year, tremendous progress was made in the areas of renminbi trade settlement, establishing branches on the Mainland by Hong Kong-incorporated banks, and facilitating Guangdong enterprises to raise capital in Hong Kong.
The two sides will pursue measures such as lowering the entry thresholds for Hong Kong property insurance and securities companies into Guangdong, reducing investment restrictions for QFIIs (Qualified Foreign Institutional Investor) and RQFIIs (Renminbi Qualified Foreign Institutional Investor), and broadening the pilot scheme for cross-boundary renminbi lending.
Mr Leung said the measures will enable the two places to further develop their financial sectors with existing resources.
