HK forum bids to boost financial ties
Source: Xinhua |
00:00 UTC+8 July 19, 2010
|
Print Edition
Print Edition
A TOP official said that Hong Kong and Shanghai can work together to hasten the internationalization of the Chinese mainland's financial market, while urging the financial sector to take advantage of the "One Country, Two Systems" principle.
K C Chan, secretary for financial services and the treasury of the Hong Kong government, made the remarks in an interview to the official website of Hong Kong Pavilion at the Shanghai World Expo, and ahead of the high-level Hong Kong Special Administrative Region Finance Forum to be held in Shanghai on Wednesday.
About 400 top financial services professionals, along with government officials and policy makers, are expected to attend the forum which carries the theme "Stronger Links, Strong Markets: Hong Kong, the Mainland and the World."
Chan said the event would help to address the challenges in the global financial market.
"Nowadays the financial markets change quickly. We are going to discuss several topics during the forum. First, the new regulations and the situation of the financial environment. Secondly, the financial reforms on the mainland. And thirdly, the opportunities presented by the internationalization of the renminbi," Chan said, referring to the Chinese currency yuan.
The forum is also expected to address the positioning of Shanghai and Hong Kong as well as the opportunities for financial cooperation between the two cities.
Chan said Hong Kong, as a financial hub, had many advantages with markets fully connected with the rest of the world, a legal system that measures up to international standards, and free flow of capital and information.
He said Shanghai and Hong Kong should be complementary to each other that can go a long way to develop the mainland market.
Chan said under the unique "One Country, Two Systems" environment, Hong Kong could help enterprises on the mainland to go global.
"On one hand we can help in the continuous opening-up of Chinese mainland. On the other, we help ourselves to become an international financial center," he said.
K C Chan, secretary for financial services and the treasury of the Hong Kong government, made the remarks in an interview to the official website of Hong Kong Pavilion at the Shanghai World Expo, and ahead of the high-level Hong Kong Special Administrative Region Finance Forum to be held in Shanghai on Wednesday.
About 400 top financial services professionals, along with government officials and policy makers, are expected to attend the forum which carries the theme "Stronger Links, Strong Markets: Hong Kong, the Mainland and the World."
Chan said the event would help to address the challenges in the global financial market.
"Nowadays the financial markets change quickly. We are going to discuss several topics during the forum. First, the new regulations and the situation of the financial environment. Secondly, the financial reforms on the mainland. And thirdly, the opportunities presented by the internationalization of the renminbi," Chan said, referring to the Chinese currency yuan.
The forum is also expected to address the positioning of Shanghai and Hong Kong as well as the opportunities for financial cooperation between the two cities.
Chan said Hong Kong, as a financial hub, had many advantages with markets fully connected with the rest of the world, a legal system that measures up to international standards, and free flow of capital and information.
He said Shanghai and Hong Kong should be complementary to each other that can go a long way to develop the mainland market.
Chan said under the unique "One Country, Two Systems" environment, Hong Kong could help enterprises on the mainland to go global.
"On one hand we can help in the continuous opening-up of Chinese mainland. On the other, we help ourselves to become an international financial center," he said.
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