The Hong Kong Special Administrative Region (HKSAR) Government welcomes the joint promulgation by the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange and the People's Government of Guangdong Province of 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) today (February 23), and expresses gratitude to the Central People's Government for the continuous support for Hong Kong's integration into the national development of the reform and opening up of the financial market.

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.

The Chief Executive, Mr John Lee, said, "Qianhai Cooperation Zone has always upheld 'relying on Hong Kong, serving the Mainland and opening up to the world' and is an important joint-development platform in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Hong Kong will make use of the GBA and Qianhai Cooperation Zone as the entry points for integrating into the overall development of the country and further enhance the level of co-operation with Guangdong and Shenzhen to jointly promote the high-quality development in the GBA and achieve another leap forward."

The Financial Secretary, Mr Paul Chan, said, "With our unique advantages under 'one country, two systems' and the staunch support by our country, Hong Kong proactively widens and deepens the mutual financial market access with the Mainland, supports the deepening of the reform of the Mainland financial market, guides the financial sector to serve the real economy for high-quality development, and promotes the internationalisation of Renminbi prudently. The Opinion will strengthen the connection and high-level co-operation between the financial markets of Hong Kong and Shenzhen, promote the financial liberalisation and innovation of our country, give full play to Hong Kong's role as an international financial centre, as well as provide more opportunities for Hong Kong's financial, business and professional services sectors. I would like to express deep gratitude to the relevant authorities of the Central People's Government and the People's Government of Guangdong Province for their support."

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "The reform of our country's financial market brings enormous opportunities for Hong Kong's financial sector. The HKSAR Government and financial regulators will continue to maintain close communication with relevant Mainland authorities to implement the various policy measures on enhancing financial co-operation between Shenzhen and Hong Kong as set out in the Opinion."

Full text of the Opinion is available (in Chinese only) at the following link: www.pbc.gov.cn/zhengwugongkai/4081330/4406346/4693549/4802394/index.html.