Mainland Chinese language corporations will use Hong Kong’s capital market because the launch pad for his or her international progress, in accordance with an motion plan signed on Wednesday with Shanghai to attach the premier onshore industrial metropolis with the nation’s offshore monetary hub.
“Shanghai and Hong Kong are worldwide monetary centres and have all the time performed an essential position within the nation’s monetary reforms,” Hong Kong’s Monetary Secretary Paul Chan Mo-po stated after signing the plan with Shanghai’s government vice mayor Wu Wei. “The plan additional clarifies the precise path of cooperation between Shanghai and Hong Kong, and injects new and richer content material into the multilevel and multi-field monetary cooperation between the 2 cities. It’s a new measure to deepen connectivity, and it highlights help to the ‘go international’ drive by mainland corporations.”
Christopher Hui Ching-yu, Hong Kong’s secretary for Monetary Companies and the Treasury, was anticipated to take part in a closed-door assembly on Wednesday night, throughout which particulars of working tips can be mentioned, in accordance with two native officers accustomed to the matter.
