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HK-GD finance meeting held

November 01, 2016
Financial ties

Financial ties:  The Expert Group on Hong Kong-Guangdong Financial Co-operation meets in Hong Kong.

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.