Xu Zhengyu: Hong Kong has a mature global financial management system, and the coordinated development between Shanghai and Hong Kong is beneficial for Chinese enterprises going global.

On June 17, at the 2026 Shanghai Lujiazui Finance & Trade Zone Development Forum, Christopher Hui, Commissioner for Hong Kong's Financial Services and the Treasury Bureau, stated that Shanghai and Hong Kong, as two major hubs in the national financial landscape, are each rooted in the vast domestic market and backed by a global capital market network. They form an indispensable "dual hub" advantage that complements each other and can provide a "domestic coordination, global allocation, and risk control" full-service chain for Chinese companies going global. Hui pointed out that in the face of increasingly complex international compliance requirements and changes in geopolitical environments, Chinese enterprises need a stable, secure, and professional global financial management system when expanding overseas. Hong Kong is a mature, safe, and stable international corporate financial center, with a common law legal system, internationally aligned regulatory regime, simple and transparent tax system, and a comprehensive network of tax avoidance agreements. At the same time, Hong Kong has free movement of funds in and out, a highly professional and open market, and gathers top-tier global banks, accounting firms, legal firms, compliance, and risk management service providers, making it the most mature cross-border corporate financial management platform in the Asia-Pacific region. He mentioned that Hong Kong has now become the world's number one cross-border wealth management center and is the largest offshore RMB business center globally. Hong Kong recently announced the "Hong Kong International Corporate Financial Center Development Action Plan," which includes a series of proactive measures to create a favorable environment for multinational companies with more tax incentives, higher tax certainty, and greater compliance flexibility, facilitating companies to manage funds, allocate assets, and control risks in Hong Kong. When discussing the cooperation between the two regions, Hui proposed three dimensions: comprehensiveness, long-term perspective, and linkage. He mentioned that earlier this year, Hong Kong signed a cooperation agreement with the Shanghai Gold Exchange to establish the Hong Kong Gold Central Clearing System, creating a truly integrated and efficient open gold ecosystem, providing companies with more investment and risk diversification options. With its numerous advantages, Hong Kong is indeed a safe "buffer zone" and a hub for companies to expand globally, reflecting the comprehensiveness and long-term advantages of the city. Furthermore, Hui and the delegation also visited the Shanghai Pudong New Area comprehensive service center for enterprises going global. This center, led by the Shanghai Municipal Commission of Commerce, is a one-stop platform for enterprise services going global, providing services in legal, financial, consulting, accounting, and other professional areas. The organizers arranged for four Shanghai companies with overseas needs to have in-depth discussions with the delegation, where members from the Hong Kong financial, insurance, accounting, investment, and other professional sectors introduced Hong Kong's financial market, legal, and other professional services advantages, and the support that companies can receive when going global through Hong Kong.