The Hong Kong Special Administrative Region (HKSAR) and Shanghai agreed on Thursday to further strengthen cooperation to enhance the financial strength of both cities.

During a meeting in Hong Kong, representatives of the governments, financial regulators and exchanges of the two cities discussed issues of mutual interest, including the latest developments in financial services in the China (Shanghai) Pilot Free Trade Zone, cooperation in relation to cross-border business of Renminbi, securities, futures, insurance, financial technology (fintech) and green finance, as well as strengthening talent exchange.

Both sides agreed to work on continuous improvement of mutual market access programs such as Shanghai-Hong Kong Stock Connect, Bond Connect and Swap Connect, collaborate closely to implement the newly announced measures, and explore deepening cooperation between securities markets in both places.

Regarding insurance, both sides will facilitate exchanges and cooperation in the sector on development issues such as risk management of Belt and Road projects, captive insurance and insurance-linked securities.


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