Hong Kong and Australia held a Roundtable meeting on financial services in Sydney yesterday. Hong Kong's Secretary for Financial Services, Mr Stephen Ip, led a high-level delegation from the SAR which included Mr Andrew Sheng, Chairman of the Hong Kong Securities and Futures Commission, and Mr Kwong Ki-chi, Chief Executive of Hong Kong Exchanges and Clearing.
The two delegations exchanged views on a number of topical issues in the financial services sector. Mr Ip said: 'We had a fruitful discussion at the Roundtable meeting. We discussed the implications of global financial markets and the reforms and initiatives Hong Kong has embarked on to position ourselves as a major international financial centre. Such initiatives include modernising and consolidating our regulatory regime, restructuring our market operation to achieve greater efficiency and competitiveness, and enhancing our financial infrastructure to make the best use of technology.'
He continued: 'Given the openness of our respective markets, we see considerable scope for co-operation between Australia and Hong Kong. The Roundtable is a very important step forward in furthering such co-operation and strengthening the ties between the two jurisdictions. At the meeting today, we reviewed the current working relationships between Australia and Hong Kong, and our respective regulatory regimes in the areas of cross border financing, intermediary licensing, market regulation, clearing and settlement, and enforcement and surveillance. We also agreed to set up working groups to examine in detail the issues involved and develop the future work programme of the Roundtable.'
The Hong Kong and Australia delegations issued a joint statement at the end of the Roundtable meeting which stated: 'This has been a solid first step in strengthening ties between our jurisdictions. We acknowledge that there is a lot of work to be done to achieve our common objectives.'
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment