This Dec 1, 2017 photo shows Canton Tower and Haixinsha Island in Guangzhou, south China's Guangdong province. (JIN LIANGKUAI / XINHUA)

HONG KONG - Hong Kong has multiple advantages to push forward the development of financial services and innovation and technology in the Guangdong-Hong Kong-Macao Greater Bay Area, said Paul Chan Mo-po, the city's financial secretary, on Sunday.

Financial services have become the most competitive sector in Hong Kong and will be conducive to the development of the financial sector in the Greater Bay Area, Hong Kong Financial Secretary Paul Chan Mo-po said

Addressing a symposium at Jinan University, Chan said that financial services have become the most competitive sector in Hong Kong and will be conducive to the development of the financial sector in the Greater Bay Area.

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Chan said Hong Kong can help the internationalization of the renminbi, serve as a fund-raising platform for mainland businesses, provide asset management services, become an ideal platform for catastrophe bond issuance, and bolster the green finance in the Bay Area.

In terms of Hong Kong's innovation and technology development, Chan highlighted the world-class research capacity of universities, a mature legal system, sound intellectual property protection, and an internationalized business environment.

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Hong Kong and Shenzhen are also making joint efforts to build a technology and innovation cooperation zone, which will become an important platform of technology and innovation development in the Bay Area, Chan said.