HONG KONG – Officials of the Hong Kong Special Administrative Region and the southern Chinese metropolis of Shenzhen met on Thursday and discussed deepening financial cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area.

The Shenzhen-Hong Kong Financial Co-operation Committee convened its first meeting in Hong Kong under the co-chairmanship of Secretary for Financial Services and the Treasury Christopher Hui Ching-yu and Vice-Mayor of the Shenzhen Municipal People's Government and Director General of the Office of the Financial Affairs Committee of the CPC Shenzhen Municipal Committee Luo Huanghao.

Hui said he looked forward to leveraging the committee as an important mechanism to foster mutual access between the financial markets of the two places and contribute to building the financial strength of the country

Hui noted that the committee gathered together officials from the central government, Shenzhen and the HKSAR, and leaders of the financial industry in both places, according to an HKSAR government statement.

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“It brought together the government, the community and business sectors to provide insights and suggestions on Shenzhen-Hong Kong financial cooperation and the development of financial infrastructure of the Guangdong-Hong Kong-Macao Greater Bay Area,” the statement reads.

Hui said he looked forward to leveraging the committee as an important mechanism to foster mutual access between the financial markets of the two places and contribute to building the financial strength of the country.

Luo said that Shenzhen and Hong Kong were closely connected with each other and the establishment of the committee will bolster the financial cooperation between the two places to a higher level.

During the meeting, the committee discussed the latest developments of the financial markets and financial cooperation initiatives of Shenzhen and Hong Kong. It also explored new suggestions on further enhancing the development of a collaborative market and enabling the movement of financial talent.

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In his 2023 Policy Address, Chief Executive John Lee Ka-chiu proposed to deepen financial cooperation in the GBA, including the creation of the Shenzhen-Hong Kong Financial Co-operation Committee.