Since last year, our cooperation with Hong Kong has reached a new level. On the one hand, we have made it more convenient for Hong Kong investors to access the mainland’s capital market. On the other hand, we have eased the rules for mainland companies to list in Hong Kong, and supported the issuance of RMB-denominated bonds by mainland institutions and enterprises in Hong Kong. A pilot program has been successfully kicked off for B-to-H share conversion. A joint venture has been set up by Shanghai, Shenzhen and Hong Kong's stock exchanges, which strengthened the exchange of information, product, technology and personnel. As a next step, we will assess the feasibility of raising the stakes Hong Kong investors can hold in joint ventures in the securities, futures and mutual fund industries. We will support the growth of cross border ETFs and the development of cross border bond market. We can also find ways to achieve mutual recognition of registered funds between Hong Kong and the mainland, cross-border distribution and cross-listing of products on the exchanges both in Hong Kong and Shanghai. In one word, we will continue to provide substantial support for Hong Kong as an international financial hub.
Ladies and gentlemen, opening up the capital market is and will always be our long term policy. We welcome friends from overseas to come to our market, and join us in developing a more open and inclusive capital market in China.
Thank you.
Read the Chinese version: 建设一个更加开放更加包容的资本市场
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