SFST leads Hong Kong financial sector delegation attending Shenzhen-Hong Kong liaison event promoting 30 Financial Support Measures for Qianhai (with photos)
18.5.2023

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, led a Hong Kong financial sector delegation to attend a Shenzhen-Hong Kong liaison event on promoting 30 Financial Support Measures for Qianhai, held in Shenzhen today (May 18), to explore ways to implement relevant policy measures and to strengthen Shenzhen-Hong Kong financial co-operation to jointly promote high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The event included promotion of the business environment in Qianhai, introduction of the latest progress of the 30 new measures promulgated in the Opinion on Providing Financial Support for the Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (the Opinion), sharing by representatives of financial institutions in Shenzhen and Hong Kong on their implementation plans relating to the Opinion, and introduction of the enhancement of the Qianhai Qualified Foreign Limited Partnership (QFLP) pilot scheme. Mr Hui remarked that Hong Kong was an important bridge connecting the Mainland and the world, and Shenzhen was at the forefront of the reform and opening up of the country as well as a pioneer in driving development; whereas Qianhai was an important platform for the co-operation between Shenzhen and Hong Kong as sister cities, and an important part in the GBA development. He said, "We hope that through this event, we can have a deeper understanding of the development plan and policy advantages of Qianhai, establish wider communication and co-operation with the government departments, regulatory authorities and financial sector in Shenzhen, promote substantial development in Shenzhen-Hong Kong financial co-operation more effectively, and participate in the GBA development more proactively." The central finance and monetary authorities and the People's Government of Guangdong Province jointly promulgated the Opinion in February this year. The Opinion sets out 30 measures on financial reform and innovation, covering financial services relating to people's livelihood, mutual access between financial markets, development of modern financial services industry, facilitation of cross-boundary trade and financing, strengthening financial regulatory co-operation, etc. Today's event provided a platform for the governments, regulators and financial sectors of the two places to discuss the measures promulgated in the Opinion and relevant implementation plans. In addition, the Financial Services and the Treasury Bureau (FSTB) and the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen Municipality (Qianhai Authority) jointly promulgated 18 Measures for Supporting the Linked Development of Shenzhen and Hong Kong Venture Capital Investments in Qianhai in September last year. At the event today, representatives from the Qianhai Authority introduced relevant measures and implementation details to the Hong Kong financial sector, including introducing enhancements to the entry threshold and application procedures, expanding the investment scope, and reducing the processing time, etc. The Shenzhen-Hong Kong liaison event on promoting 30 Financial Support Measures for Qianhai was jointly organised by the FSTB and the Qianhai Authority, with the Economic Affairs Department of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (HKSAR) as the co-organiser. Representatives from the financial regulators of Shenzhen also attended today's event to show support. Representatives from the HKSAR Government, regulators, market operators and advisory bodies joining the event are from the FSTB, the Hong Kong Monetary Authority, the Securities and Futures Commission, the Insurance Authority, the Mandatory Provident Fund Schemes Authority, the Accounting and Financial Reporting Council, the Hong Kong Exchanges and Clearing Limited and the Financial Services Development Council. Representatives of the financial sector are from various banking, securities, insurance and funds companies as well as industry associations and organisations.