On October 31st, the Hong Kong Stock Exchange announced the signing of a memorandum of cooperation with the Shenzhen Emissions Trading Exchange (SEHK) to jointly promote the development of the carbon market ecosystem in Hong Kong and even the entire Guangdong Hong Kong Macao Greater Bay Area. According to the memorandum of cooperation, the Hong Kong Stock Exchange and the Shenzhen Emissions Exchange will jointly explore opportunities for carbon market connectivity and climate financing between the two regions, with the goal of creating a dynamic and sustainable regional financial ecosystem. We will fully support countries in achieving carbon peak by 2030 and carbon neutrality by 2060, and promote the healthy development of green finance in Asia. Su Yingying, head of emerging business and fixed interest and currency business at the Hong Kong Stock Exchange Group, said that this cooperation highlights the determination of both sides to build a sustainable and prosperous carbon market in the Greater Bay Area and even the wider region. Both sides will combine their respective strengths and strive to jointly build a vibrant and innovative market within the region. While providing high-quality carbon projects, they will also promote interaction between mandatory and voluntary carbon markets in mainland China and internationally. The Shenzhen Emissions Exchange was established in 2010 and launched the country's first carbon trading market in 2013. It is the first domestic carbon trading market in the country to introduce foreign investors, and also the first batch of voluntary greenhouse gas emission reduction trading markets in the country. (New News Agency)