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Li Keqiang: Hong Kong to be blessed under 12th Five-Year Program

08-17-2011 16:34 BJT

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We start in Hong Kong, where Chinese Vice Premier, Li Keqiang, is on his first visit to the Special Administrative Region. Li delivered a keynote speech on Wednesday morning at a forum focusing on the 12th Five-Year Program and financial and trade cooperation between the mainland and Hong Kong. He said the program will bring new opportunities to the region.

Sharing opportunities for common prosperity - Chinese Vice Premier Li Keqiang said Hong Kong will be blessed with a more favorable environment under the pattern of the 12th Five-Year Program.

Li said the mainland and Hong Kong have had a fruitful economic cooperation in the past. Hong Kong has played an irreplaceable role in China's reform, opening-up and modernization drive, while the mainland has been providing firm and concrete support for Hong Kong's prosperity and stability.

Chinese Vice Premier Li Keqiang delivers a speech at the Forum on 12th Five-Year Plan and Mainland-Hong Kong Economic, Trade and Financial Cooperation in Hong Kong, south China, Aug. 17, 2011. (Xinhua/Li Tao)

More concrete support was announced. The Vice Premier said the mainland will improve the openness to Hong Kong's service trade, strengthen and improve Hong Kong's status as an international financial center, and build Hong Kong into an offshore RMB center. Li also promised to support Hong Kong to participate in international and regional economic cooperation, boost enterprises both in the mainland and Hong Kong to develop overseas and continue to ensure the important role of Hong Kong in the Guangdong-Hong Kong-Macao region.

Especially for the offshore RMB issue, Li said the RMB Qualified Foreign Institutional Investors will be allowed to invest in mainland securities markets with an initial size of 20 billion RMB yuan, and more mainland-based financial institutions and enterprises will be allowed to issue RMB bonds in Hong Kong.

Li delivered a keynote speech on Wednesday morning at a forum focusing on the 12th Five-Year Program and financial and trade cooperation between the mainland and Hong Kong. He said the program will bring new opportunities to the region.

 

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Editor:Zhang Dan |Source: CNTV.CN

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