Vice President Fang Xinghai of the China Financial Association: Financial cooperation between Shanghai and Hong Kong can promote common development.

On the evening of June 18th, the 4th plenary session of the 2025 Lujiazui Forum was held with the theme of "Deepening Cooperation and Development between Shanghai and Hong Kong as International Financial Centers." Fang Xinghai, former vice chairman of the China Securities Regulatory Commission and vice president of the China Society of Finance, stated that financial cooperation between Shanghai and Hong Kong can mutually promote and develop each other. Fang Xinghai gave the example of foreign investment entering the A-share market, which is related to the introduction of the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect. One of the biggest factors promoting foreign investment in A-shares was the inclusion of A-shares in the MSCI index in 2017, leading to international funds tracking the index investing in A-shares. The inclusion of A-shares in the MSCI index is closely related to the launch of the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect, because one requirement of index inclusion is that overseas investors must have smooth access to investing in the domestic market, with the ability to enter, exit, buy, and sell smoothly. The launch of the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect is very beneficial for both Hong Kong and the mainland.