A view of Shenzhen Photo: VCG

Paul Chan Mo-po, financial secretary of the Hong Kong Special Administrative Region (HKSAR), met Shenzhen Mayor Qin Weizhong during his visit to Shenzhen, South China's Guangdong Province, on Monday, with both sides pledging to further tap into the potential of two-way cooperation in financial, economic and trade sectors, as well as scientific innovation.

During the meeting, both sides discussed cooperation in areas including investment promotion and trade, and jointly assisting enterprises in the two places to go overseas and bring in foreign capital back home.

They also discussed accelerating the development of the Hetao area and the Hong Kong-Shenzhen Innovation and Technology Park on both sides of the Shenzhen River.

Chan said that Hong Kong and Shenzhen are the "twin engines" of economic development and technological innovation in the Guangdong-Hong Kong-Macao Greater Bay Area.

The gathering of outstanding enterprises, talent and funds can make positive contributions to the country's high-level technological self-reliance and high-quality development, the SAR official said, adding that there is broad space for cooperation in each field.

Chan also visited a local company that develops and manufactures high-end surgical robots and medical equipment, as well as a smart shipping company, to understand the industry situation and development potential.

The economic and financial links between the Chinese mainland and the HKSAR have been strengthened, fueled by the demand for increased connectivity and exchanges, all the while maintaining and strengthening Hong Kong's status as a global financial hub.

On Monday, Hong Kong Exchanges and Clearing Ltd launched the highly anticipated Hong Kong dollar-yuan dual counter model, aiming to enhance Hong Kong's position as a global financial hub by infusing liquidity and vigor into its stock market. Chan inaugurated the counter alongside HKEX Chairwoman Laura May-Lung Cha and CEO Nicolas Aguzin.

To expand and optimize connect programs, the HKSAR government will continue to join hands with the mainland, including adding yuan counters in mainland-HKSAR stock connects, so as to provide more risk-management tools for overseas investors and help rejuvenate Hong Kong's capital market, HKSAR Chief Executive John Lee Ka-chiu said on June 9.

Global Times