Hong Kong, China Securities Regulatory Commission Deepen Financial Ties

Hong Kong Chief Executive John Lee met China Securities Regulatory Commission Chairman Wu Qing at Government House on August 2 to discuss strengthening ties between Hong Kong and Mainland financial markets. The meeting aimed to enhance connectivity, a key goal under the 'one country, two systems' framework.

Lee highlighted Hong Kong's advantages as an internationalised market environment with well-established financial infrastructure. He noted that the 15th Five-Year Plan supports the city in reinforcing its position as an international financial centre and expanding functions in asset management.

The launch of Mainland government bond futures in Hong Kong on August 3 is seen as a crucial step towards providing offshore risk management tools for investors. Lee welcomed the move, saying it would further strengthen Hong Kong's renminbi product ecosystem and consolidate its role as the premier offshore renminbi business centre.

Lee expressed gratitude for Mainland support and looked forward to deepening cooperation to enhance offshore renminbi liquidity and support the internationalisation of the currency. He emphasized that the Hong Kong government would continue working closely with Mainland authorities to introduce practical measures aimed at expanding mutual market access.