On the 27th, the Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, attended the "2023 Phoenix Bay Area Financial Forum" in Hong Kong and delivered a keynote speech, sharing three new driving forces in Hong Kong's financial development. He said that Hong Kong is a city that combines China's advantages with global advantages, and is also a leading international financial center in the world. It has sufficient conditions to play a greater role in the financial field and contribute to the high-quality development of the Guangdong Hong Kong Macao Greater Bay Area. He analyzed that the new driving force for Hong Kong's financial development lies first and foremost in the continuous deepening of connectivity with mainland financial markets. Since the beginning of this year, a series of measures have been taken to include the stocks of qualified foreign companies listed in Hong Kong as the subject matter of the Hong Kong Stock Connect, the Shanghai Hong Kong Stock Connect has launched "northbound" trading, and bulk trading has been included in the interconnection mechanism. On the one hand, these measures have helped the orderly opening of the national financial market, and on the other hand, they have also opened up new space for the Hong Kong financial market and services. Li Jiachao pointed out that the second new driving force lies in continuing to promote the development of the listing system and securities market. In March of this year, the Hong Kong Stock Exchange implemented a special technology company listing system, which further facilitates mainland technology companies to absorb international capital and expand business, promoting the development of innovative technology industries and the real economy. In addition, the SAR government has also established a task force to promote stock market liquidity, conducting in-depth research on methods to enhance the liquidity of the Hong Kong stock market, helping the SAR government make strategic and forward-looking plans to build a more vibrant and dynamic basic market for Hong Kong. In addition, the new driving force for development also lies in vigorously developing green finance and financial technology. Li Jiachao said that Hong Kong is a green finance hub in Asia, with a total of $80.5 billion in green and sustainable debt issued in Hong Kong in 2022. Hong Kong will continue to enhance its competitiveness in this area and looks forward to more institutions in the Greater Bay Area making good use of Hong Kong's green financial market. In terms of financial technology, Hong Kong has a vibrant financial technology ecosystem, with over 800 financial technology enterprises covering multiple business areas. The SAR government will continue to combine the traditional advantages of Hong Kong's international financial center with the new development advantages of building an international innovation center, bringing new momentum to Hong Kong's financial technology development. Li Jiachao stated that in addition to planning and promoting the construction of the Greater Bay Area at the government level, it also requires the collective efforts of all sectors of society to continue to provide suggestions for the country and Hong Kong, create more development space, and enhance development momentum. (New News Agency)
Edit：Hu Sen Ming Responsible editor：Li Xi
Source：ecns.cn
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