ECONOMY | Staff Reporter, Hong Kong

Hong Kong and Shanghai collaboration may foster mutual benefit

Top HK official optimistic that working out 'one country, two systems policy' will improve both cities.

Hong Kong's financial services sector can take advantage of the 'One country, two systems' principle, to help China open up while helping Hong Kong become a global financial hub, Secretary for Financial Services & the Treasury Prof KC Chan says.

In an interview ahead of a high-level HKSAR Finance Forum to be held in Shanghai on July 21, Prof Chan said the event would help to address the challenges in the current global financial environment, according to a Information Services Department report.

"Nowadays the financial markets change so quickly. We are going to discuss several topics during the forum: first, the new regulations and situation of the financial environment; second, the financial reforms on the Mainland; third, the opportunities presented by the internationalisation of the renminbi," Prof Chan said.

"Under the unique 'One country, two systems' environment, we can help enterprises in China to go global and participate in international financial services.

"Hong Kong provides a good environment for financing, and some very good capital management services to enterprises in China.

"On the one hand, we help the continuous opening up of China, on the other we help ourselves to become an international financial centre."

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