Huang Liuquan, deputy director of the Hong Kong and Macau Affairs Office of the State Council, led a publicity delegation to Hong Kong to preach the "14th Five-Year Plan" to all walks of life.
The Financial Secretary Chen Maobo published a blog today (29), referring to the strategic considerations, overall framework and key directions shared by the propaganda team, so that they can have a comprehensive overview of the layout and ideas, and emphasized that Hong Kong must be in line with national policies in all aspects. To mobilize the strength and resources of the whole society to the greatest extent, to promote Hong Kong's better development in the blueprint for the future of the country.
Chen Maobo pointed out that the promotion of finance and innovative technology is the key area of in-depth discussion. As the world's leading IPO fund-raising place, Hong Kong needs to increase efforts in many aspects, including strengthening the development of the local bond market, enhancing the depth of the asset management market and diversifying products. And develop green and sustainable finance.
He emphasized that Hong Kong can deepen the development of the offshore renminbi market and facilitate the internationalization of the renminbi.
A delegation led by the Hong Kong and Macao Affairs Office of the State Council and Chen Maobo and all walks of life jointly discussed how Hong Kong can better integrate with the national "14th Five-Year Plan".
(Photo by the Information Services Department)
Do a good job in the docking of ideas and ideas
Chen Maobo said that Hong Kong, as an international financial center and the world's largest offshore RMB hub, relies on the geographical advantages and market advantages of connecting the mainland. Therefore, it is necessary to think about what the mainland needs during the "14th Five-Year Plan" period and how Hong Kong should make strategic arrangements to grasp it. Good key opportunity.
He emphasized that Hong Kong must do a good job in policy alignment, industry alignment and market alignment, and more importantly, the alignment of ideas and ideas, in order to mobilize the strength and resources of the whole society to the greatest extent in a complex and interactive market, and promote Hong Kong’s future development in the country. There is better development in the blueprint.
The bond market will have more room for development. Various services need to be reviewed
He mentioned that one of the points is to make the Hong Kong bond market develop deeper and broader. It means that bonds can effectively allow investors’ funds to manage risks according to the length of the investment period. This will help Hong Kong gather long-term funds. I believe that the continued economic development of the Mainland will Drive huge demand, and under the immediate background of the launch of the "Southbound Link" of Bond Connect, Hong Kong's bond market will have more room for development.
He also pointed out that in order to bring the bond market development to a new level, including bond issuance, trading, liquidation, listing on exchanges, etc., as well as credit rating services, all need to be reviewed.
Chen Maobo believes that the Hong Kong government must also vigorously increase the depth of the asset management market and product diversification. He believes that in the future the Guangdong-Hong Kong-Macao Greater Bay Area will attract more capital and product demand.
He believes that the development of green and sustainable finance will become another new driving force for the growth of the financial market.
Have the conditions and ability to create more offshore RMB-denominated investment tools
One of the key points of the presentation was how to promote the internationalization of RMB in Hong Kong. Chen Maobo said that Hong Kong, as the world's largest offshore RMB hub, not only provides a "reservoir" for overseas RMB funds, but also builds an "offshore ecosystem" for RMB. , I believe that Hong Kong has the conditions and ability to create more offshore RMB-denominated investment tools, provide channels, financial instruments and projects with return on investment, as well as stable and efficient treasury management services such as exchange and exchange rate risk management, so that RMB funds can be used in The offshore market circulates.
The 14th Five-Year Plan | Bank of China Hong Kong should be strong: Hong Kong can actively participate in the 14th Five-Year Plan of RMB internationalization from four aspects The 14th Five-Year Plan to Protect Investors' Rights and Interests | Luo Huining: Hong Kong's biggest opportunity in the Mainland must be firmly seized