Li Jiachao meets with Pan Gongsheng to exchange views on economic and financial topics.

Chief Executive John Lee met with People's Bank of China Governor Pan Gongsheng today to exchange views on economic and financial issues. Financial Secretary Paul Chan and Secretary for Financial Services and the Treasury Christopher Hui also attended.

John Lee said that the national 15th Five-Year Plan supports Hong Kong in consolidating and enhancing its status as an international financial center, strengthening its functions as a global offshore renminbi business hub, an international asset and wealth management center, and an international risk management center, and building a commodity trading ecosystem. The SAR government is working at full speed to compile Hong Kong's first five-year plan, actively seizing the significant opportunities brought by the national 15th Five-Year Plan to promote high-quality development of the international financial center. The SAR government will continue to leverage Hong Kong's unique advantages of being backed by the motherland and connected to the world under "one country, two systems," continuously promote connectivity with the mainland financial market, facilitate two-way flow of funds between the two places, and further enhance the competitiveness of Hong Kong as an international financial center.

John Lee said that Hong Kong is one of the three major international financial centers and also the world's largest offshore renminbi business hub and the largest cross-border wealth management center. With the support of the country, Hong Kong is steadily expanding its offshore renminbi business and continuously enriching the renminbi product ecosystem. Hong Kong will continue to deepen collaboration with the mainland, fully promote the more efficient circulation of renminbi funds in the offshore market, and serve the country's prudent and solid advancement of renminbi internationalization.

John Lee indicated that the SAR government is actively promoting the development of Hong Kong as an international gold trading market, establishing a Hong Kong gold central clearing system, attracting gold spot storage, clearing, and delivery in Hong Kong, driving the development of related services such as trading, risk management, insurance, warehousing, and logistics, and gradually building a comprehensive gold trading ecosystem. The SAR government will continue to work with relevant mainland institutions and industry players to advance related work, improve the infrastructure and supporting facilities of Hong Kong's gold market, inject new momentum into the diversified development of the financial market, and contribute Hong Kong's strength to building the country into a financial powerhouse.