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Budget Speech

International Financial Centre

66. The development of Hong Kong as an international financial centre has dovetailed with the needs of our country and attuned to the pulse of the global investment market over the past few decades.  As a result of such development, an extensive pool of capital, investors, entrepreneurs and professional services talent was created in Hong Kong.  Our market size continues to grow with new services and products rolling out one after another.  Following the continuous expansion and enhancement of the mutual access regime and our implementation of various policies to promote the transformation of the market structure in recent years, Hong Kong's role and function as the international financial centre of our country have been further enhanced.  Hong Kong has risen to a new level of development, with a wider scope of services and a more comprehensive industrial chain.  The clustering effect in respect of financial institutions has also become more prominent.

67. The 14th Five‑Year Plan expressly supports Hong Kong in enhancing our status as an international financial centre, strengthening its functions as a global offshore Renminbi (RMB) business hub, an international asset management centre and a risk management centre, as well as deepening and widening mutual access between the financial markets of Hong Kong and the Mainland, so as to develop a high‑quality GBA.

68. We will endeavour to achieve the goal of enhancing the capability of the financial sector in serving the real economy.  While making rapid development, we need to strike a balance to maintain stability and security, enabling Hong Kong to fully realise its market potential as well as achieving rapid, long-term and steady market development.  The steady development of our country provides the most solid backing for Hong Kong.  Under the "dual circulation" strategy, our country's continuous reform, high-quality two-way opening up, ongoing RMB internationalisation and transformation to a green and zero-emission economy have brought us new missions and opportunities.  Hong Kong has to proactively develop a more vibrant and diversified financial market in terms of type of investment products, risk management tool, appropriate corporate financing arrangement, treasury management needs, etc.  By doing so, we can definitely ensure a stronger development of our financial market, through which we can deepen and widen the mutual access between Mainland and international capital markets, thereby facilitating Hong Kong's development into a more competitive and powerful international financial centre.



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