决策者 | 借力香港金融优势 融入国家发展大局

Editor's note: Decision Makers is a global platform for decision makers to share their insights on events shaping today's world. Christopher Hui is the Secretary for Financial Services and the Treasury of Hong Kong Special Administrative Region. The article reflects the author's views and not necessarily those of CGTN.

编者按：决策者是一个全球平台，供决策者分享他们对影响当今世界之事件的见解。许正宇是香港特别行政区财经事务及库务局局长。本文仅代表作者的观点，并不代表本台观点。

During the first session of the 14th National People's Congress, which commenced in Beijing on March 5, the government work report said that we should resolutely implement the principle of “One Country, Two Systems,” “patriots administering Hong Kong” and a high degree of autonomy in the Hong Kong Special Administrative Region (HKSAR). It also mentioned that the central government supports Hong Kong in enhancing economic development, improving livelihood and maintaining long-term prosperity and stability. 

3月5日，第十四届全国人民代表大会第一次会议在北京开幕。政府工作报告指出，我们要继续全面准确、坚定不移贯彻“一国两制”、“港人治港”、高度自治的方针。报告还提到，中央政府支持香港发展经济、改善民生，保持香港长期繁荣稳定。

The HKSAR government will faithfully implement the principle of “One Country, Two Systems,” in seizing the opportunities brought about by national strategies, including the 14th Five-Year Plan and the outline development plan for the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), in order to promote Hong Kong's integration into national development and contributing to the high-standard opening-up of China's financial sector.

毫无疑问，香港特区政府将全面准确、坚定不移贯彻“一国两制”方针，不遗余力抓住“十四五”规划和《粤港澳大湾区发展规划纲要》等国家战略带来的机遇，推动香港积极融入国家发展大局，为中国金融业的高标准开放作出贡献。

The HKSAR government will support Hong Kong's function as a hub of investment and financing, offshore RMB business, as well as green and sustainable finance, and as a connector with the international community. The city also integrates into the national development, while creating strong impetus for growth in the financial sector.

香港特区政府将充分发挥香港作为投融资中心、离岸人民币业务中心、绿色和可持续金融枢纽的作用，并充当好内地与国际社会之间的联系人。香港将进一步全面融入国家发展大局，激发金融业发展动力。

Pooling offshore capital

汇聚离岸资本

Hong Kong's return to normalcy on all fronts and the full resumption of normal travel between Hong Kong and the Chinese mainland will welcome many international investors back to the Hong Kong market. For 2022 as a whole, Hong Kong achieved favorable rankings among global financial centers, which shows the city has remained a leading financing hub in the world.

香港在各方面均已重归正常，香港与内地也全面恢复正常往来，这将吸引众多国际投资者回归香港市场。综观2022年，在全球金融中心排名中香港仍居于前列，这表明香港仍是世界一流的金融中心。

Hong Kong can serve as a financing platform for the mainland enterprises. Sufficient Private Equity (PE) funds can render deeper support to enterprises at their early stage of development and when they are experiencing rapid growth. A listing platform with ample liquidity will help raise offshore capital for the mainland enterprises and enhance their governance.

香港可以作为内地企业的融资平台，大量私募股权基金可以在企业发展初期和快速成长期为其提供资金支持。流动性丰沛的上市平台将继续帮助内地企业筹集离岸资金，提高企业治理水平。

By facilitating the listing of pre-profit/pre-revenue biotechnology companies in Hong Kong, the Hong Kong Exchanges and Clearing Limited (HKEX) will introduce a new main board listing mechanism in March this year for Specialist Technology Companies, which include companies from the five specialist technology industries, to facilitate their listing and fundraising in Hong Kong.  

借鉴此前无收入、无盈利生物技术公司在港上市的成功经验，香港交易及结算所有限公司（港交所）将于今年3月为特专科技公司（包括五大行业特专科技公司）引入新的主板上市机制，以协助它们在港上市融资。

The government will enhance the overall competitiveness of Hong Kong's bond market. We will set up an infrastructure bond scheme to better manage the cashflow needs of major infrastructure projects and facilitate the early completion of projects for the good of the economy and the lives of local residents. In mid-February, the HKSAR government issued tokenised green bonds, the first of its kind issued by a government globally, under the government green bond programme (GGBP). This has accentuated Hong Kong's capacity in providing a flexible and favorable legal and regulatory environment for innovative forms of bond issuance.  

香港特区政府将进一步提高香港债券市场的整体竞争力。为了投资于未来发展，我们将成立“基础建设债券计划”，更好地管理大型基建项目的现金流需求，以确保项目早日落成，造福经济民生。2月中旬，在港府绿色债券计划（GGBP）下，政府成功发售代币化绿色债券，这是全球首批由政府发售的代币化绿色债券，凸显香港能为创新的债券发行形式提供灵活便利的法律和监管环境。

Boosting two-way investment

促进双向投资

Hong Kong is a leading asset management center in Asia. In recent years, the HKSAR government has enhanced the competitiveness of its asset management industry, such as allowing the diversification of fund structures, establishing a re-domiciliation mechanism, providing a more facilitating tax environment for the fund industry, promoting the development of the real estate investment trust market and providing subsidies.  

香港是亚洲领先的资产管理中心。近年来，香港特区政府一直致力于提升香港资产管理行业的竞争力，如允许基金结构多样化、建立基金迁册机制，为基金业提供更便利的税收环境，促进房地产投资信托市场发展，并提供补贴。

In 2021, the assets under management in Hong Kong amounted to $4.5 trillion. Around two-thirds of the funding was offshore capital sourced mainly from international investors and institutional investors. In addition, Hong Kong has set up a dedicated team to provide one-stop service to family offices. The increase in assets under management will help attract more capital for investment in the mainland enterprises and assets, thereby contributing to the inflow of international capital and facilitating offshore asset allocation by investors from the mainland.

2021年，香港的资产管理规模达到4.5万亿美元，其中约三分之二的资金来自国际投资者和机构投资者的海外资本。此外，特区政府还成立了专班负责团队，为家族办公室提供一站式服务。资产管理规模的增加将有助于吸引更多资金投入内地企业和资产，从而促进国际资本持续流入，同时提升内地投资者配置海外资产的便利度。

Facilitating the internationalization of RMB

推进人民币国际化

As the world's largest offshore RMB hub, Hong Kong has been playing an important role in strengthening offshore RMB business and facilitating the internationalization of RMB.

香港作为全球最大的离岸人民币业务中心，在进一步加强离岸人民币业务和推动人民币国际化领域一直发挥着重要作用。

The mechanism for mutual access between the financial markets in Hong Kong and the mainland has been running smoothly, with a surge in turnover recorded in recent years. Experience from the Stock Connect program and Bond Connect program has shown that where risks are controllable, Hong Kong can assist the mainland in opening up the financial market in an orderly manner and attracting offshore capital for investment in offshore RMB assets.  

香港与内地金融市场的互联互通机制运行良好，近年来成交额大幅上升。“股票通”和“债券通”的经验表明，在风险可控的情况下，香港可以协助内地有序地开放金融市场，吸引海外资金投资离岸人民币资产。

Participants attend a ceremony held by Hong Kong Exchanges and Clearing Limited to launch the "northbound" mainland-Hong Kong bond connect in Hong Kong, south China, July 3, 2017. /Xinhua

The HKSAR government is promoting the issuance and trading of RMB-denominated securities in the city. A bill was passed by the Legislative Council in January this year to exempt the stamp duty payable for certain transactions by dual-counter market makers (DCMMs). The HKEX will introduce a DCMM regime in the first half of this year to promote the liquidity of RMB-denominated stocks and price efficiency, as well as to tie in with the setting up of RMB trading counters by local issuers.

香港特区政府也在积极推动在港发行和交易人民币计价证券。今年1月，立法会通过了一项法案，豁免从事流通量供应活动的市场庄家在进行特定交易时的印花税。港交所将在今年上半年推出“港币-人民币双柜台模式”，提高人民币计价股票的流通量和价格效率，配合本地发行人设立人民币交易柜台。

Hong Kong has long been an offshore RMB bond issuance center. In recent years, the Shenzhen municipal people's government and people's government of Hainan Province have issued bonds in Hong Kong, providing impetus to our offshore RMB bond market. The HKSAR government will support local governments from the mainland at various levels in issuing offshore RMB bonds in Hong Kong, with a view to contributing to national development and RMB internationalization.  

长期以来，香港一直是离岸人民币债券发行中心。近年来，深圳市人民政府和海南省人民政府也成功在香港发行债券，进一步推动了香港离岸人民币债券市场的发展。香港特区政府将一如既往地支持内地各级地方人民政府在港发行离岸人民币债券，为国家发展和人民币国际化做出贡献。

Promoting green finance

助推绿色金融

To tie in with our country's steady advancement towards the "dual carbon" goal (which is to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060), Hong Kong is promoting green bonds, green loans, as well as green investment and financing. The Green and Sustainable Finance Grant Scheme was launched to encourage more green and sustainable bond issuers and borrowers, including the mainland institutions, to make use of Hong Kong's fundraising platform and professional services. 

为配合国家稳步推进实现“双碳”目标（即实现2030年碳达峰、2060年碳中和的目标），香港正积极推动绿色债券、绿色贷款以及绿色投融资。现已公布的“绿色和可持续金融资助计划”，鼓励包括内地机构在内的更多绿色及可持续债券发行人和借款人，借力香港的融资平台和专业服务。

Since May 2019, Hong Kong has issued nearly $16 billion worth of green bonds. We will expand the scope of the GGBP to cover sustainable finance projects in the future. We will formulate a framework aligned with international standards for sustainability-related financial disclosure and climate-related disclosure by listed companies, with a view to facilitating the disclosure of environmental and climate-related risks by listed companies.  

自2019年5月以来，香港特区政府已成功发售近160亿美元的绿色债券。今后我们将进一步扩大绿色债券计划的范围，以涵盖可持续融资项目。我们还将制定一个与国际标准接轨的框架，供上市公司公开可持续性和气候变化相关的财务信息，推动上市公司公开环境和气变相关风险。

Proactively connecting with the international community

主动接轨国际社会

Hong Kong's core advantages over other international financial centers lie in the motherland's backing and its efficient market, which enable Hong Kong to play the role of a "super-connector" between international and the mainland investors. Leveraging the advantages of "One Country, Two Systems" and its market scale, Hong Kong can facilitate vertical and lateral multifaceted collaboration between our country and other economies such as countries in ASEAN and the Middle East.

与其他国际金融中心相比，香港的核心优势在于国家的坚定支持和内地的高效市场，这使得香港能够在国际和内地投资者之间扮演“超级联系人”的角色。借助“一国两制”的优势和自身市场规模，香港能促进中国与其他经济体，如东盟、中东等区域的国家之间纵向和横向的多方位合作。

In February, the Chief Executive of HKSAR John Lee, led a local delegation to visit the Middle East, a testament to the HKSAR's participation in the Belt and Road Initiative and it’s the spirit of the speech delivered by President Xi Jinping in the China-Arab States Summit held last December, i.e. to foster cooperation for mutual benefits.

今年2月，香港特区行政长官李家超率香港特区代表团访问中东，彰显香港特区主动参与并推动“一带一路”倡议实践，落实国家主席习近平在去年12月中阿首脑会议上的讲话精神，促进互惠互利合作。

The HKSAR government will leverage the advantages of "One Country, Two Systems" to achieve the development targets set out in the 14th Five-Year Plan for better integration into national development.

香港特区政府将充分发挥“一国两制”的优势，努力实现“十四五”规划中的发展目标，更好地融入国家发展大局。

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