Xu Zhengyu: Deepen cooperation between the mainland and Hong Kong financial industries, providing comprehensive support for mainland companies to expand into global markets.

On June 15, Kenneth Mak, Commissioner for Financial Services and the Treasury of Hong Kong, expressed in his speech at the "Hong Kong Financial Industry Supporting Mainland Companies to Go Global" luncheon that currently, the global economic and trade situation, industrial division of labor, and capital flow are undergoing profound adjustments. It is the trend for mainland companies to "sail out to sea" and the opportunities lie therein. Hong Kong, backed by the motherland and connected to the world, relies on the unique advantages of the "one country, two systems" system, a mature and comprehensive international financial system, and a professional service ecosystem that aligns with the global standards. Hong Kong continues to play the role of a "super connector" and "super value-adding partner" for the country, serving as the most reliable and professional bridge for mainland companies to enter the international market. Kenneth Mak introduced the strategic value of financial cooperation between Hong Kong and Zhejiang. With a solid foundation of financial advantages in Hong Kong, the industrial resources of Zhejiang and Hong Kong complement each other greatly, with a high degree of compatibility in development. Zhejiang is a province with a strong private economy and digital economy, as well as a hub for advanced manufacturing. Hangzhou is particularly famous for its innovation in the digital economy, boasting a large number of dynamic, innovative, and globally ambitious enterprises. Meanwhile, Hong Kong's strengths lie in international finance, cross-border investment and financing services, international professional services, and global regulatory alignment, which perfectly align with the core needs of Zhejiang companies going global. The high degree of resource complementarity and industrial compatibility between the two regions can be seen as a golden combination of physical industry and international finance. To this end, Kenneth Mak suggested three areas of cooperation: Firstly, to leverage the combination of "finance +" to empower the new quality of industrial construction. Mainland China, especially Zhejiang, has a solid foundation in the digital economy, high-end advanced manufacturing, new energy, and green environmental protection industries, coupled with abundant innovative energy. Hong Kong, with a mature market mechanism, possesses international leading advantages in green finance and financial technology. The collaboration between the two regions can achieve mutual benefits through empowering new industrial productivity. Zhejiang's high-quality digital economy, green and low-carbon projects can rely on Hong Kong's internationally recognized green certification systems, diverse green financing tools, and mature and sustainable digital trade financing infrastructure to connect global sustainable development investment capital. At the same time, Hong Kong's leading financial technology applications, cross-border compliance services, and international business rule consulting capabilities can all assist Zhejiang enterprises in accelerating digitalization and green transformation, helping companies seize the first-mover advantage in the global digital industry and low-carbon economic development. Secondly, Hong Kong must focus on cross-border financial pain points and establish offshore financial centers to help companies go global with ease. Mainland enterprises often encounter issues such as a lack of diverse international financing channels, dispersed cross-border fund management, exchange rate fluctuations, and risks associated with overseas investments when entering the international market. Hong Kong, as a global financial hub, can tailor solutions for mainland enterprises. The Hong Kong Special Administrative Region government and the Insurance Authority are committed to promoting and attracting mainland companies to establish dedicated captive insurance companies in Hong Kong to assist enterprises in managing overseas business risks comprehensively. They also encourage mainland companies to issue more insurance-linked securities to better manage catastrophic risks and actively support mainland enterprises in going global, while managing risks effectively. Lastly, fully utilize Hong Kong's professional services to tackle development pain points effectively. Hong Kong gathers top-tier lawyers, accountants, tax advisors, and cross-border consulting teams globally, familiar with the economic and trade rules, tax systems, industrial policies, and trade barriers of major economies worldwide, providing comprehensive and full-cycle international services for enterprises. From overseas due diligence for mergers and acquisitions, cross-border tax planning, to intellectual property protection, and resolving international commercial disputes, they can provide full-scale support for enterprises going global. Moreover, Hong Kong connects with trade and financial networks spanning over 200 countries and regions globally, linking up with top-tier global investment institutions and industrial resources, assisting mainland enterprises in swiftly connecting with overseas clients, partners, and resources, significantly reducing the costs of trial and error in going global. Kenneth Mak concluded by stressing that Hong Kong will always adhere to the original intention of "serving the country's needs with Hong Kong's strengths", deepening financial and professional service cooperation between the mainland and Hong Kong with the most open attitude, practical measures, and professional services. He hopes to work hand in hand with colleagues from all sectors and entrepreneur friends to help more high-quality mainland enterprises leverage Hong Kong as an international platform to steadily advance into the world and contribute to the country's high-level opening-up and high-quality development.