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Shanghai and Hong Kong should leverage their complementary strengths and generate synergy to better serve the country’s opening-up, said Financial Secretary Paul Chan Mo-po.
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Connecting the massive mainland market on one end and global capital and international rules on the other, both Hong Kong and Shanghai serve as crucial channels for international capital allocation into Chinese assets, Chan said at the 2026 Lujiazui Forum in Shanghai.
He stated that cooperation between the two places' capital markets has continued to deepen.
As of May this year, there were 212 Shanghai enterprises listed in Hong Kong, with a total market capitalization exceeding HK$4.3 trillion, Chan said.
Looking ahead, he proposed two directions for cooperation:
First, to jointly bridge the full-chain financing channels.
This involves enabling more tech and innovation enterprises to navigate two-way financing paths, and jointly developing Exchange Traded Funds (ETFs) and index products, he said.
It also includes promoting cooperation between patient capital and long-term capital to support the development of emerging and future industries, Chan noted.
Second, to jointly enhance the international function of the yuan.
This includes enriching investment products and risk management tools, as well as promoting the implementation of more "China Price" products denominated and settled in the yuan, he said.
