HK finance official to visit Shanghai

Hong Kong's Secretary for Financial Services and the Treasury K C Chan will lead a delegation to Shanghai on April 3 to attend the fourth Working Meeting of Hong Kong-Shanghai Financial Co-operation, the local government said Wednesday.

During his visit, the delegation will exchange views with representatives of the relevant government departments, regulatory bodies and exchanges in Shanghai on ways to deepen financial co- operation between the Hong Kong and Shanghai in areas including cross-border Renminbi business, banking, securities and insurance.

The delegation will also call on vice-Mayor of Shanghai Municipal Government Tu Guangshao, and visit the Shanghai Pilot Free Trade Zone.

The delegation comprises the Permanent Secretary for Financial Services and the Treasury (Financial Services) Au King-chi and representatives of Hong Kong Monetary Authority, Securities and Futures Commission, Office of the Commissioner of Insurance and Hong Kong Exchanges and Clearing Limited.

The Financial Services and the Treasury Bureau of Hong Kong and the Shanghai Municipal Government Financial Services Office signed a Memorandum of Understanding (MOU) Concerning Advancing Hong Kong- Shanghai Financial Co-operation in 2010.

Under one of the co-operation directives of the MOU, financial representatives of the two places hold bilateral meetings regularly with a view to improving mutual dialogues and exchanges. The first three working meetings were held in July 2010, January 2012 and March 2013.

Chan will return to Hong Kong on Friday afternoon.