At the 2026 Lujiazui Forum held on June 17, Christopher Hui, the Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, stated that finance, as a core instrument, must deeply serve the real economy. He noted that cooperation between Shanghai and Hong Kong in capital markets has achieved significant progress, and in the future, the two should leverage their complementary strengths to jointly contribute to the nation's goal of building a strong financial system. Hong Kong is actively using gold as an entry point to deepen cooperation with the Shanghai Gold Exchange, striving to establish itself as an international gold trading hub.
Building a Comprehensive System: Integrating Financing, Asset Management, and Risk Management
Mr. Hui pointed out that Hong Kong, as an international financial centre, is no longer just a financing platform. According to data from internationally renowned management institutions, Hong Kong is one of the world's largest cross-border wealth management centres. Against the backdrop of accelerating global changes, enterprises seek both to maximize profits and minimize risks, making the importance of risk management tools greater than ever.
He specifically mentioned a positive development from the forum that morning—the central government's support for Hong Kong to issue 5-year treasury bond futures. "This is a crucial first step," Mr. Hui said. Facing the increasingly complex and diverse risk management needs of enterprises, Hong Kong can provide comprehensive services including financing, asset management, and risk hedging. "This is precisely the financial foundation essential for the coordinated development of Shanghai and Hong Kong, and also an unshirkable responsibility for Hong Kong to serve national development."
Focusing on the Long Term: Strategic Layout for Commodities and Gold Trading Aligned with the 15th Five-Year Plan
This year marks the beginning of the 15th Five-Year Plan period. Sharing insights from his overseas visits, Mr. Hui noted that Hong Kong and the mainland are among the few economies with long-term economic plans, while many regions are constrained by short-term political factors, making it difficult to formulate long-term strategies. "In the financial sector, we must resolutely advance initiatives that may be challenging in the short term but are beneficial in the long run."
He gave an example: a comprehensive financial centre is incomplete if it only has stocks and bonds but lacks a commodities segment. To this end, Hong Kong is actively using gold as an entry point to deepen cooperation with the Shanghai Gold Exchange, aiming to build an international gold trading hub. During this year's Asian Financial Forum, the two sides signed a relevant agreement. "This is an important step for Hong Kong to address its shortcomings in commodity finance and serve national strategy."
Enhancing Connectivity: Mutual Empowerment Between International Capital and the Mainland Market
Reflecting on over a decade of connectivity between the mainland and Hong Kong markets, Mr. Hui believes the model of "each taking what it needs and developing together" has borne rich fruit. He pointed out that behind Hong Kong lies ample international capital, while behind Shanghai is the vast mainland market. Combining the two aligns with the core principles of financial opening-up and serving the real economy.
"The global competitiveness of mainland enterprises continues to strengthen, with particularly important positions in strategic industries. The financial empowerment these enterprises need in their globalization process is precisely what Hong Kong can and should provide," he stated. He suggested that Shanghai and Hong Kong could further strengthen their synergy in the future, for example, by conducting joint overseas roadshows to showcase China's economic strength to international investors while clearly conveying how finance serves the development of the mainland's real economy. "This is beneficial for Shanghai, beneficial for Hong Kong, and even more beneficial for the country."
Conclusion: Financial Synergy Ultimately Serves to Strengthen the Economy
Mr. Hui concluded that comprehensiveness, long-term focus, and connectivity form the core pillars of financial synergy between Shanghai and Hong Kong. Above financial synergy, the ultimate goal is to serve the real economy—"to make the economy bigger and better." He stated that Hong Kong will continue to leverage its advantages as an international financial centre and work hand in hand with Shanghai to provide more robust financial support for the development of the real economy amidst global changes.
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