Hong Kong and Shanghai sign plan to deepen financial cooperation

Hong Kong and Shanghai signed a plan on Wednesday aimed at deepening financial cooperation between the two cities, in a move that officials say will reinforce China’s ambition to build global financial strength.

The plan, signed during a forum in Shanghai and witnessed by Hong Kong Financial Secretary Paul Chan Mo-po and top Shanghai officials, outlines 38 measures across six areas.

Chan said in his address at the forum that the initiative sets a clearer direction for the two cities' partnership, introducing "new and richer dimensions" to their multi-layered cooperation.

He noted that the plan focuses on enhancing financial market connectivity, supporting mainland firms to list and raise capital in Hong Kong, and expanding cooperation in sectors such as green finance, fintech, reinsurance, and commodities trading.

STAFF REPORTER