Hong Kong and Shanghai have agreed to enhance collaboration in the insurance sector, including captive insurance and insurance-linked securities. According to an official statement, the agreement was made during the ninth Working Meeting of Hong Kong-Shanghai Financial Cooperation in Hong Kong as part of a broader pact between the two cities on enhancing financial ties. Furthermore, both sides will facilitate exchange and cooperation in risk management in ‘Belt and Road’ projects. The two cities agreed to work on the continuous enhancement of the mutual market access programmes and explore further deepening of cooperation between the securities markets of the two cities. They also plan to strengthen cooperation on product development, services, and innovation relating to green finance, as well as enhance ties among fintech enterprises between the municipalities.
