a proposal for enhancing the bond between shanghai and hong kong: two peaks...
title: a proposal for enhancing the bond between shanghai and hong kong: two peaks of financial exploration
author: he haifeng and yang yujia
the resolution of the central committee of the communist party of china on further deepening reform comprehensively to advance chinese modernization (hereinafter referred to as "resolution"), which was adopted at the third plenary session of the 20th central committee of the communist party of china, highlighted the need to move faster to build shanghai into an international financial center and to work to consolidate and enhance the status of china's hong kong (hereinafter referred to as hong kong) as an international financial, shipping, and trade center. the central financial work conference underlined the need to accelerate the building of a nation with a strong financial sector, advocating for equal emphasis on "bringing in" and "going global", and steadily expanding institutional opening up in the financial sector. at the opening ceremony of the study session on promoting high-quality financial development, attended by provincial and ministerial-level leading officials, general secretary xi jinping emphasized that a nation with a strong financial sector should have a strong economic foundation, as well as a series of key core financial elements, such as strong international financial centers. shanghai and hong kong, both international metropolises, stand as international financial centers, hosting major global financial markets. they not only serve as the physical space and urban carriers for building a robust financial sector, but also act as key drivers and fundamental pillars for the evolution of financial elements and industry markets. shanghai and hong kong can fully leverage their respective advantages, enhance cooperation, and promote coordinated development. by harmonizing the opening up and security of the financial sector, they can jointly contribute to bolstering china's core competitiveness in the financial sector.
