Shanghai, Hong Kong strengthen cooperation for greater development

Shanghai Mayor Gong Zheng met with Shih May-lung, chairperson of the Board of Directors of the Hong Kong Stock Exchange (HKEX), on Thursday.

Gong said that Shanghai and Hong Kong are two charming cities with a long history of exchange and cooperation and have jointly written a brilliant oriental "Tale of Two Cities." Especially since the establishment of the Shanghai-Hong Kong Cooperation Conference Mechanism in 2003, economic and trade cooperation has become closer.

Currently, Shanghai is deepening the construction of the "Five Centers" and strengthening the "Four Functions," speeding up the construction of a socialist modern international metropolis with global influence. Finance is the core of modern economy, and is one of the most important functions of Shanghai.

The financial markets in Shanghai and Hong Kong cooperate closely, and have successively launched innovative mechanisms such as "Shanghai-Hong Kong Stock Connect," "Bond Connect" and "Interest Rate Swap," effectively promoting the deepening of Shanghai-Hong Kong financial cooperation.

It is expected that both sides will further strengthen resource complementarity, experience sharing and enterprise interaction in the financial field, promote cooperation between the financial markets and financial infrastructure platforms in both places, strengthen policy exchange and cooperation in the listing process, establish and improve the information exchange mechanism and work together to achieve more cooperation results and make greater contributions to the overall development of the country.

Shih said that Hong Kong and Shanghai are both international financial centers with their own strengths, complementary advantages and huge cooperation space. Over the years, the two places have closely cooperated through connectivity, achieving mutual benefit and win-win results.

HKEX is willing to leverage its own advantages, actively serve the needs of mainland enterprises and industrial development and promote international investors to invest in the mainland.

At the same time, she hopes to further expand cooperation channels with Shanghai in the securities, futures and other fields, strengthen personnel exchanges and work together to achieve even greater development.