Hong Kong Chinese Commercial Bank Association: Will actively provide suggestions on implementation details of the “Five-Year Plan” and “Policy Address” to give full play to the unique advantages and role of the China Commercial Bank Association as a bridge

The Zhitong Finance App learned that the Hong Kong Huashang Banking Association warmly welcomed and fully supported the “First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region” and the new “Policy Address”. This is the first time that Hong Kong has formulated a medium- to long-term five-year plan, and the “Policy Address” has implemented the annual plan, drawing up a clear strategic blueprint for Hong Kong's financial industry and overall economy, and boosting market confidence. The Hong Kong Association of Chinese Commercial Banks will continue to gather the strength of its peers, actively provide suggestions on the implementation details of the “Five-Year Plan” and the “Policy Address”, give full play to the unique advantages and role of the China Merchants Bank Association, work with all sectors to seize the historical opportunities brought about by the overall development of the country, and make greater contributions to the long-term prosperity and stability of Hong Kong.

According to the conference, the “Five-Year Plan” and “Policy Address” are based on the actual situation in Hong Kong and deepening reforms and innovation, and have proposed a number of measures in the financial field, including consolidating and enhancing the status of an international financial center, strengthening the functions of a global offshore RMB business hub, optimizing the stock and bond market system, expanding the functions of asset and wealth management and risk management centers, and promoting “finance +” to empower the real economy. At the same time, the government actively supports mainland enterprises to “go overseas”, strengthen cross-border trade data integration and financial services to help SMEs reduce costs and increase efficiency, and continues to deepen the construction of the “Guangdong-Hong Kong-Macao Greater Bay Area” and the “Northern Metropolitan Area”, which will further expand the development space and service boundaries of the financial industry.