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Platform built for further cooperation between Mainland and Hong Kong financial practitioners-- CEPA Forum Beijing 2006 opens in Beijing
(Beijing, 19 April 2006) Hosted by The Hong Kong Securities Institute ("HKSI") and The Securities Association of China ("SAC"), the CEPA Forum Beijing 2006 convened in Beijing today. Attracting more than 100 representatives from leading Hong Kong and Mainland financial corporations, the event is the first major activity jointly organised by Mainland and Hong Kong professional securities associations after the operation of CEPA. The Forum served as a platform for promotion of dialogue, interaction and collaboration between securities practitioners from the Mainland and Hong Kong, with the effective mode of cross-region cooperation taking shape. The Forum also provided an opportunity for Mainland enterprises to grasp the latest international financial concepts which will assist in accelerating their alignment with the international practices.
The Forum entitled "New Opportunities and Challenges Ahead for Mainland and Hong Kong Financial Practitioners" saw an array of experts presenting their constructive and visionary views. Among the speakers are Mr. Zhuang Xinyi, Vice Chairman of the China Securities and Regulatory Commission; Mr. Huang Xiangping, Vice Chairman of the SAC; The Hon. Frederick Ma, Secretary for Financial Services and the Treasury, HKSAR; Mr. Mike Rowse, Director-General of Investment Promotion of Invest Hong Kong, HKSAR; Mrs. Alexa Lam, Member of the Board and Executive Director of the Securities and Futures Commission, HKSAR; Mr. Ren Guangming, Chief Representative of Beijing Representative Office of the Hong Kong Exchanges and Clearing Limited; Mr. Edward Kwan, Chairman of the HKSI. They offered their insights on the opportunities for cooperation among securities practitioners, and the ways to promote development of the securities sectors from both sides under the CEPA framework.
Mr. Edward Kwan, Chairman of the HKSI, said in his welcoming address, "Since its operation on 1 January 2004, CEPA has drawn much of our attention, as it has important implications and contributed significantly to the economic development of the markets from both sides. As we all know, the first phrase of CEPA had effectively promoted the exchange of talents across the markets. Agreements and arrangements with regard to the mutual recognition in a number of professions, including practitioners from the securities and futures sectors, were established. The second phase saw the Hong Kong financial service sectors making inroads into the Mainland market. We are now in the third phase of CEPA, the securities and futures companies from both sides are provided with unprecedented opportunities for communication and cooperation in market development. With the extensive operation and fine-tuning of the CEPA,
the importance in developing a higher level of cooperation between markets from both sides is expected."
Mr. Huang Xiangping, Vice Chairman of the SAC, said, "Around 100 representatives from leading financial corporations in Hong Kong and the Mainland are taking part in the Forum, it has demonstrated the fact that practitioners from both sides value the ample opportunities offered by the CEPA and they are keen to see higher level of cooperation. I am confident that through mutual cooperation, both Beijing and Hong Kong will experience positive growth in their economies."
Mr. Gary Cheung, Chief Executive of the HKSI, said, "Adjacent to the Mainland market, Hong Kong is an important financial centre in the region, and CEPA has seen the financial and economic ties between the Mainland and Hong Kong strengthened. With the gradual opening up of the Mainland market, a lot of financial service providers in Hong Kong are interested in tapping the opportunities there. The HKSI's market-wide survey "Research on Corporate Hong Kong's Readiness for the Mainland Financial Markets", conducted in the second half of 2005, found that Hong Kong financial corporations' level of preparation for the Mainland market can be further enhanced. Looking forward, with the converged effort from the two sides, more opportunities for cooperation will be created. This will also help strengthen the integrated competitiveness of Mainland and Hong Kong markets, and create a win-win situation for both sides."
The trend of globalisation is witnessed at global and regional levels. As a key player in the global economy, China has become a major force driving global economic growth. The Mainland economy's growth and development potentials has presented a golden opportunity for Hong Kong to maintain and strengthen her position as an international financial centre. Hong Kong has a number of unique advantages in its economic system, market environment, economic strength, international network and professional expertise. With a higher level of economic cooperation and integration with Mainland market, further consolidation and development in the regional economies will be seen.
About Hong Kong Securities Institute
The Hong Kong Securities Institute provides comprehensive and professional training courses, organises events and administers internationally recognised examinations for individuals who wish to work in the financial services sector. Its aim is to raise the standards of securities and finance practitioners. Please refer to the website www.hksi.org for details.
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