On November 3, at the International Finance Leaders Investment Summit, Li Chao, vice chairman of the China Securities Regulatory Commission, said that consolidating and enhancing Hong Kong's status as an international financial center is a major national strategy and an inevitable requirement for speeding up the construction of a financial power. I am very happy to see that Hong Kong has released its first five-year plan in history, actively integrated into the overall national development agenda, and proposed a series of practical measures. The China Securities Regulatory Commission will earnestly implement the central arrangement, solidly promote practical cooperation between the mainland and Hong Kong capital markets, deepen two-way openness, and fully support Hong Kong in consolidating and enhancing its status as an international financial center in accordance with the “five collaborative” cooperation model proposed by China Securities Regulatory Commission Chairman Wu Qing in Hong Kong in August of this year. The first is to further enhance the convenience of cross-border investment and financing. Li Chao said, “Accelerate the integration of RMB stock trading counters into Hong Kong Stock Connect, implement plans to optimize the system for qualified overseas investors, and provide a more convenient and efficient institutional environment. Support domestic enterprises that need to expand their international layout to go public in Hong Kong to better promote the development of new quality productivity in the two markets.” The second is to further deepen the all-round opening of markets, products, institutions, etc. Li Chao said that to promote a high level of opening-up of the bond and futures markets to the outside world, strengthen market cooperation between the two regions, develop more indices linked to Chinese assets and ETF products that lay out China's modern industrial system to better meet the diversified asset allocation and risk management needs of international investors. Support high-quality mainland institutions to make good use of Hong Kong as a “bridgehead” to the world and accelerate the construction of first-class investment banks and investment institutions. The third is to further strengthen cross-border regulatory collaboration. Li Chao said that the China Securities Regulatory Commission will better coordinate openness and security, deepen cross-border regulatory collaboration with relevant regulators, strengthen risk monitoring and identification of cross-border capital flows, enhance the effectiveness of penetrating supervision and risk prevention, crack down on illegal business activities such as illegal cross-border exhibitions in accordance with the law, and deepen information sharing and regulatory collaboration in emerging business fields such as real-world asset tokenization. Fourth, participate more deeply in the reform of global financial governance. Li Chao said, “We will cooperate closely with Hong Kong's financial regulators to thoroughly participate in international rule-making and cutting-edge research related to global capital markets, and contribute more Chinese wisdom and solutions to global financial governance.” Li Chao pointed out that at present, the Chinese economy is showing a good development trend with new momentum and improved structure, and the safety value, resilience value, and innovation value of the Chinese capital market continue to receive attention and recognition from all parties. He said, “We are convinced that the capital markets of the Mainland and Hong Kong will be more vibrant in collaborative development. Taking this opportunity, we also warmly welcome more international investors and financial institutions to invest and develop businesses in China, actively participate in the construction of mainland and Hong Kong capital markets, and better share the achievements of the high-quality development of the Chinese economy.”

On November 3, at the International Finance Leaders Investment Summit, Li Chao, vice chairman of the China Securities Regulatory Commission, said that consolidating and enhancing Hong Kong's status as an international financial center is a major national strategy and an inevitable requirement for speeding up the construction of a financial power. I am very happy to see that Hong Kong has released its first five-year plan in history, actively integrated into the overall national development agenda, and proposed a series of practical measures. The China Securities Regulatory Commission will earnestly implement the central arrangement, solidly promote practical cooperation between the mainland and Hong Kong capital markets, deepen two-way openness, and fully support Hong Kong in consolidating and enhancing its status as an international financial center in accordance with the “five collaborative” cooperation model proposed by China Securities Regulatory Commission Chairman Wu Qing in Hong Kong in August of this year. The first is to further enhance the convenience of cross-border investment and financing. Li Chao said, “Accelerate the integration of RMB stock trading counters into Hong Kong Stock Connect, implement plans to optimize the system for qualified overseas investors, and provide a more convenient and efficient institutional environment. Support domestic enterprises that need to expand their international layout to go public in Hong Kong to better promote the development of new quality productivity in the two markets.” The second is to further deepen the all-round opening of markets, products, institutions, etc. Li Chao said that to promote a high level of opening-up of the bond and futures markets to the outside world, strengthen market cooperation between the two regions, develop more indices linked to Chinese assets and ETF products that lay out China's modern industrial system to better meet the diversified asset allocation and risk management needs of international investors. Support high-quality mainland institutions to make good use of Hong Kong as a “bridgehead” to the world and accelerate the construction of first-class investment banks and investment institutions. The third is to further strengthen cross-border regulatory collaboration. Li Chao said that the China Securities Regulatory Commission will better coordinate openness and security, deepen cross-border regulatory collaboration with relevant regulators, strengthen risk monitoring and identification of cross-border capital flows, enhance the effectiveness of penetrating supervision and risk prevention, crack down on illegal business activities such as illegal cross-border exhibitions in accordance with the law, and deepen information sharing and regulatory collaboration in emerging business fields such as real-world asset tokenization. Fourth, participate more deeply in the reform of global financial governance. Li Chao said, “We will cooperate closely with Hong Kong's financial regulators to thoroughly participate in international rule-making and cutting-edge research related to global capital markets, and contribute more Chinese wisdom and solutions to global financial governance.” Li Chao pointed out that at present, the Chinese economy is showing a good development trend with new momentum and improved structure, and the safety value, resilience value, and innovation value of the Chinese capital market continue to receive attention and recognition from all parties. He said, “We are convinced that the capital markets of the Mainland and Hong Kong will be more vibrant in collaborative development. Taking this opportunity, we also warmly welcome more international investors and financial institutions to invest and develop businesses in China, actively participate in the construction of mainland and Hong Kong capital markets, and better share the achievements of the high-quality development of the Chinese economy.”