Policy Address

Competitiveness

11.         We should fully grasp the opportunities presented by “One Country, Two Systems”. We will continue to develop Hong Kong as a global financial centre, asset management centre and offshore RMB business centre attracting capital and talent from within and outside the country. In the process, we will endeavour to meet the overall development needs of our country and achieve a win-win situation, and contribute to our country's financial security. The Financial Secretary will formulate specific plans along the following direction:

(1) To build on our strength as an international market and enhance the quality and competitiveness of our market to attract international talent, capital, financial institutions and products;

(2) To strengthen our role as the testing ground for the liberalisation of our country's capital account and the regionalisation and internationalisation of the RMB, and to build a market offering a broad range of RMB products and services;

(3) To leverage on the “early and pilot implementation” policy to enhance the two-way flow of financial institutions, financial products, capital and talent between Hong Kong and the Pearl River Delta (PRD) region;

(4) To serve as Mainland enterprises' preferred capital raising centre outside the Mainland, providing equity listing, bond issuance, international asset management and hedging services. In this regard, Hong Kong can act as the bridgehead for Mainland enterprises to go international; and

(5) To strengthen the links between the Mainland and Hong Kong financial markets in the areas of financial market infrastructure, information sharing, and regulatory co-operation to enhance the financial security of cross-border capital flows.

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