Hong Kong, Shanghai ink plan to deepen financial ties

Hong Kong and Shanghai have signed a cooperation plan to deepen financial ties, reinforcing China’s goal of boosting its global financial influence. Signed during a forum in Shanghai and witnessed by Hong Kong Financial Secretary Paul Chan and senior mainland officials, the agreement outlines 38 measures spanning six key areas. The plan aims to enhance market connectivity, facilitate capital raising for mainland firms in Hong Kong, and expand collaboration in green finance, fintech, reinsurance, and commodities trading. Officials said the initiative adds depth to the partnership between the two cities and provides a clearer roadmap for long-term integration. The move comes as China seeks to position both Hong Kong and Shanghai as twin pillars in its broader push for international financial leadership.