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Policies issued to boost Hong Kong, mainland relations

(Xinhua)

11:15, June 27, 2012

BEIJING, June 27 (Xinhua) -- China's central government on Wednesday announced a package of policies to boost economic and cultural relations between Hong Kong and the mainland.

The central government will push forward the joint ventures of stock exchanges in Hong Kong, Shenzhen and Shanghai, and issue bourse-traded funds listed on both the Hong Kong and mainland stock markets, said a statement from the State Council.

The central government will encourage foreign investors to make trade settlements and investments in Renminbi, or the yuan, in Hong Kong, the statement said.

Other financial policies included improving the variety of offshore yuan services in Hong Kong and facilitating long-term investment from Hong Kong in the mainland's capital market.

In terms of trade and economic cooperation, the mainland will sign another appendix agreement to the Closer Economic Partnership Arrangement (CEPA) with Hong Kong, the statement said.

The central government will encourage mainland and Hong Kong enterprises to invest abroad together and promote coordination among airports, harbors and train systems in the Pearl River Delta, including Hong Kong, it said.

The policy package covers cooperation in trade, finance, education, science and technology and tourism, as well as cooperation between Hong Kong and neighboring Guangdong province.

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