Hong Kong, Guangdong seek closer cooperation

Will establish a new mechanism to strengthen communication and information exchange.

The 18th Working Meeting of the Hong Kong/Guangdong Cooperation Joint Conference also saw both sides pledging to continue promoting cross-boundary renminbi business development. This included expanding cross-boundary renminbi lending to other Guangdong cities such as Nansha and Hengqin.

Hong Kong insurance companies will get support in establishing operations in Guangdong while Guangdong enterprises will be encouraged to establish captive insurers in Hong Kong to promote mutual access to the two places insurance markets.

Both sides will also facilitate setting-up joint venture companies in the securities, advisory, fund and asset-management sectors.