SHENZHEN, China, Feb 28 (Bernama-AsiaNet) — Qianhai now appears to be the first stop for Hong Kong-invested financial institutions to enter the mainland, and Qianhai has made another breakthrough in financial innovation. On February 23, the Opinions on Providing Financial Support for the Comprehensive Deepening of Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (hereinafter referred to as the Opinions) was officially released. With it, Qianhai will play a greater role in helping Hong Kong integrate into the overall national development, according to the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.
The Opinions set out 30 financial measures, covering financial services related to people’s livelihoods, mutual access between financial markets, the development of the modern financial industry, facilitation of cross-border trade, investment, financing, and strengthening of cooperation in financial supervision. More specifically, the newly-released measures include helping Hong Kong residents to open accounts with mainland banks, facilitating Hong Kong professionals to practice in the mainland, allowing financial securities institutions to carry out direct financing in Hong Kong, and pilot the transfer of private equity and venture capital shares. The 30 measures have further defined the path to achieving a higher and deeper level of financial opening up and cooperation with Hong Kong.
