Policy Address
Deepening Mutual Access between the Mainland and Hong Kong Financial Markets
43. Hong Kong is our country’s international financial centre. We have rolled out a number of policy initiatives for the mutual access of financial markets in recent years, facilitating both the opening up of the Mainland’s capital market and the expansion of Hong Kong’s financial services. The Central Government continues to support Hong Kong in consolidating and enhancing our status as an international financial centre. Apart from expediting the implementation of the cross-boundary wealth management connect scheme in the GBA, the Central Government has, during my visit to Beijing, agreed to include pre-profit biotechnology companies listed in Hong Kong under the new listing regime and stocks listed on the Mainland Sci-Tech Innovation Board meeting certain prescribed criteria into the stock universe of the mutual market access programmes. This initiative will add a bright spot to the mutual access of the financial markets of the two places.
Promoting Real Estate Investment Trusts in Hong Kong
44. We also strive to promote real estate investment trusts (REIT) in Hong Kong to develop Hong Kong into a vibrant REIT market in Asia. This will strengthen the capital raising function of Hong Kong as a premier asset and wealth management centre, and broaden the investment options with a relatively stable return for local investors. To this end, we are considering various measures through a multi-pronged approach, including relaxing the investment restrictions of REIT as appropriate, broadening the investor base, facilitating market operation through legislative and regulatory enhancements, and stepping up market promotion and investor education.
