The Securities and Futures Commission and the China Securities Regulatory Commission jointly announced 10 new measures on Monday to further deepen practical cooperation and foster closer coordinated development between the two markets.

The measures cover a wide range of areas, including listings and fundraising, index cooperation, futures products, exchange-traded funds, the internationalisation of financial institutions, green finance and professional qualification facilitation.

The regulators said the measures would help consolidate and enhance Hong Kong’s status as an international financial centre.

They will also support the development of first-class investment banks and investment institutions through regulatory cooperation, promote deeper participation by the two markets in global financial governance and regional regulatory collaboration, and further enhance the international influence of China’s capital markets.

Securities and Futures Commission chairman Kelvin Wong said the new measures are a testament to the close collaboration and joint efforts between the two regulators.

"This series of important measures focuses on key areas and will help enhance the international influence and attractiveness of China's capital markets, while providing strong support for the further development of Hong Kong's capital market," he said.

In a statement, Chief Executive John Lee welcomed the measures.

"As an important bridge in our country's financial system, Hong Kong will continue to leverage its role in 'bringing in and going global', better integrating into and serving the overall development of our country," he said.

Financial Secretary Paul Chan said the 10 new measures would facilitate the ability of mainland and overseas investors to seize the enormous investment opportunities arising from the country's steady and high-quality economic development and the building of a modern industrial system.

At the same time, they will consolidate and enhance Hong Kong's function as a hub connecting the mainland market and global capital, he added.

"These measures will further promote the coordinated development of the two capital markets on a more open, resilient and efficient basis," Chan said.

The officials said they would actively facilitate the implementation of the measures.




Edited by Tony Sabine