Hong Kong Exchanges and Clearing Limited (HKEX) officially launched five-year RMB government bond futures on August 3. China Securities Regulatory Commission (CSRC) Chairman Wu Qing attended the listing ceremony and delivered a speech outlining five key initiatives to deepen capital market cooperation between the mainland and Hong Kong.

Focus on Functional Synergy to better support cross-border two-way financing for enterprises. The CSRC will continue to support domestic enterprises with international expansion plans to list in Hong Kong, and support high-quality Hong Kong-listed companies to list on the mainland, jointly enhancing the quality and efficiency of serving the development of new productive forces.

Focus on Product Synergy to make it more convenient for global investors to allocate Chinese assets. The CSRC will support cooperation between index companies on both sides to launch more indices based on Chinese assets, encourage industry institutions on both sides to introduce more ETF products that layout China's modern industrial system based on the markets of both places, optimize the registration mechanism for ETF products, jointly enhance the international influence of Chinese indices and Chinese assets, while deepening cooperation in the futures markets of both places, supporting Hong Kong in launching more futures and options products denominated and settled in RMB, and building a more diversified asset ecosystem.

Focus on Ecosystem Synergy to provide greater space for institutional cooperation and talent exchange. The CSRC will support more high-quality securities and fund companies to establish and expand their businesses in Hong Kong and go global, build first-class investment banks and investment institutions, provide more efficient allocation financial services for the global layout of Chinese enterprises and investors, and study expanding the scope of mutual recognition of professional qualifications for securities and futures professionals between the two places, facilitating the employment of outstanding professionals in both places.

Focus on Regulatory Synergy to jointly maintain the stable operation of the markets in both places. The CSRC will further strengthen regulatory collaboration with Hong Kong regulatory authorities, deepen cooperation in areas such as issuance, listing, and supervision and enforcement of intermediary institutions, while continuously improving risk monitoring and information sharing mechanisms, strengthening risk monitoring and collaborative response to cross-border capital flows, and preventing systemic risks.

Focus on Governance Synergy to contribute more Chinese wisdom to global financial development. The CSRC will strengthen coordination with Hong Kong regulatory authorities under bilateral and multilateral mechanisms, promote pilot programs for sustainable information disclosure by listed companies in both places, deepen experience exchange and policy coordination on cutting-edge innovation areas such as artificial intelligence and blockchain, promote the improvement, convergence, and mutual recognition of international rules and standards, and enhance China's participation and influence in the field of global financial governance.