The Hong Kong Securities Regulatory Commission and the China Securities Regulatory Commission jointly announced new cooperation initiatives! Covering ETFs, futures, green finance

The Zhitong Finance App learned that on August 3, the Hong Kong Securities Regulatory Commission and the China Securities Regulatory Commission jointly announced a series of new measures to further deepen practical cooperation and close collaborative development between the two markets. The measures announced this time cover various areas such as listing financing, index cooperation, futures products, exchange-traded funds (ETFs), internationalization of financial institutions, green finance, and facilitation of professional qualifications, reflecting that the regulators of the two regions have established a comprehensive cooperation framework to jointly promote the high-quality development of the two markets. The two sides believe that these measures will not only help consolidate and enhance Hong Kong's status as an international financial center, but also promote the establishment of first-class investment banks and investment institutions through regulatory cooperation, promote in-depth participation of the two markets in global financial governance and regional regulatory cooperation, and further enhance the international influence of China's capital market.

Specific initiatives include:

Continue to support the listing and financing of eligible domestic enterprises in Hong Kong, support the domestic listing of eligible Hong Kong stock listed companies, support eligible Hong Kong enterprises to issue bonds in the Mainland, and make better use of the two markets and resources to finance development;

Support index companies from the two regions to strengthen cooperation, launch more indices based on Chinese assets, and enhance the international influence of Chinese indices and Chinese assets;

Deepen futures market cooperation between the two places and support Hong Kong in introducing more RMB denominated futures products;

Support institutions in the two regions to launch more ETF products based on the two markets and layout of China's modern industrial system, and implement a rapid registration mechanism for conventional stock ETF products;

Support securities fund companies with certain strength, operating standards, and a high level of management to “go global” in accordance with the law, expand international business in an orderly manner using Hong Kong as a base, and build first-class investment banks and investment institutions;

Promote listed companies in the two regions to launch a pilot financial disclosure project on climate-related transformation plans, and work together to write big green finance articles;

The study promotes support for Hong Kong banking professionals engaged in securities and futures business to apply for relevant qualifications in the Mainland through simplified procedures.

On this basis, the Hong Kong Securities Regulatory Commission and the China Securities Regulatory Commission will further strengthen market supervision collaboration between the two regions, participate deeply in global financial governance, and provide a solid guarantee for the smooth and healthy operation of the two markets. Specific initiatives include:

Continue to strengthen the issuance and listing supervision cooperation between the two places, promote cross-border two-way direct financing for eligible enterprises in an orderly manner, and promote complementary advantages and collaborative development of the two markets;

Continuously strengthen supervisory cooperation between intermediaries between the two countries, improve risk monitoring and information sharing mechanisms, and promote compliance and steady operation of industry institutions;

Deeply participate in global financial governance and regional regulatory cooperation to jointly promote the stable and healthy development of regional capital markets.

Dr. Wong Tin Yew, Chairman of the Hong Kong Securities Regulatory Commission, said, “I would like to express my special thanks to the China Securities Regulatory Commission. The launch of this new initiative fully reflects the results of close collaboration and joint efforts between the two local securities regulatory councils. Focusing on core areas, this series of important initiatives will help enhance the influence and appeal of China's capital market in international financial markets and provide important support for the further development of Hong Kong's capital market. At the same time, the relevant arrangements clearly outline the development path of the capital markets of the two places towards a higher level of connectivity, injecting strong momentum into the continuous promotion of deepening collaborative development between the two places. Looking forward to the future, Hong Kong will continue to play an irreplaceable advantage and unique role in the process of building a strong financial country.”

Ms. Leung Fung-yee, Chief Executive of the Hong Kong Securities Regulatory Commission, said, “We will continue to work closely with the China Securities Regulatory Commission to refine measures and implement relevant arrangements to enhance the influence and competitiveness of mainland and Hong Kong capital market institutions, personnel and products in the global financial system, and also provide global investors with more opportunities to share China's development achievements. I and the Securities Regulatory Commission also continue to actively promote regional regulatory cooperation to promote regional market integration and steady development.”