The fourth Hong Kong-Shanghai Financial Co-operation Working Meeting brought together representatives of governments, stock exchanges and financial regulators to discuss issues surrounding financial services and products. Representatives from Shanghai informed the gathering about the progress made with the implementation of the financial aspects of the pilot free trade zone.
The delegates agreed to further encourage Hong Kong subsidiaries of financial institutions in Shanghai to join the RMB Qualified Foreign Institutional Investor and Qualified Foreign Institutional Investor programs while developing more varied financial products and expanding their asset management business.
The delegates agreed to provide encouragement to qualified financial institutions and businesses in Shanghai to use Hong Kong as a platform for issuing negotiable securities such as RMB Bonds or H shares. They also agreed to encourage entities in the Shanghai securities sector to consider establishing branches in Hong Kong to make use of the financing platform there.
