The Expert Group on Hong Kong-Guangdong Financial Co-operation held its eighth meeting in Hong Kong today to discuss ways to enhance financial co-operation between the two places.
Permanent Secretary for Financial Services & the Treasury (Financial Services) Andrew Wong and Guangdong Financial Affairs Office Director General Xiao Xue co-chaired the meeting.
They discussed diversifying cross-boundary renminbi business, co-operation on the credit market, two-way opening up of capital markets and co-operation initiatives in the insurance industries.
They agreed to include the Management Committee of Guangzhou Nansha Economic-Technological Area, the Authority of Qianhai Shenzhen-Hongkong Modern Service Industry Co-operation Zone of Shenzhen and the Zhuhai Hengqin New Area Administrative Committee as group members.
Mr Wong said Hong Kong has long-established close financial co-operation with Guangdong and the two sides will seek to make significant contributions to the National 13th Five-Year Plan and the Belt & Road Initiative.
Both sides are preparing for the Shenzhen-Hong Kong Stock Connect and will strive for further expansion of the scope of eligible products for trading under the mutual market access scheme, he added.
