Shenzhen to strengthen financial cooperation with Hong Kong

Published on July 13, 2009 by connie | This story has been viewed 437 views

Shenzhen Municipal Financing Office of the Government earlier announced that substantive progress had been made in the financial cooperation of Shenzhen and Hong Kong and the two places should make use of the advantages of their owns and strengthen the financial cooperation from various levels and aspects.

The spokesman of Shenzhen Municipal Financing Office of the Government introduced Shenzhen would strengthen the financial cooperation between Shenzhen and Hong Kong from the following aspects:

Promote the cooperation on the settlement between Shenzhen and Hong Kong. Shenzhen would actively strive for the national support to enlarge RMB settlement quota of small-amount trade between Shenzhen and Hong Kong and try to allow RMB remittance and repatriation of the residents of Shenzhen and Hong Kong within limits, promoting the construction of the Offshore Center for the RMB and actively facilitating the combination of Shenzhen Tong IC cards and Hong Kong Octopus IC cards.

Strengthen the capital market cooperation of Shenzhen and Hong Kong. Shenzhen would rely on the advantages on the capital market to actively support the intercommunication of the security exchanges in the two places and to support the establishment of long term cooperation relationship. Shenzhen was actively striving for the approval of China’s Securities Regulatory Commission to allow Shenzhen Security Exchange to first experiment with the ETF, making Shenzhen an experimental city that domestic individual could directly make investment in outbound security markets.

Actively introduce professional talented persons of Hong Kong financial market, strengthening the exchange of talented persons and institutions of Shenzhen and Hong Kong financial markets.

Shenzhen Post staff Connie contributes to the story

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