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Guangdong, Hong Kong to bolster co-operation |
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 Hong Kong has urged more Asian economies to press ahead with more market reform to ensure they continue to thrive into the future.
Hong Kong’s Secretary for Financial Services & the Treasury, Professor KC Chan, also said Asian economies should deepen market reform through measures like developing local currency bond markets to improve the efficiency of financial intermediation. |
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Speaking after the Hong Kong/Guangdong Co-operation Joint Conference 12th plenary session on August 19, Mr Tsang said the priority was to build on the broad reaching Outline of the Plan for Reform & Development of the Pearl River Delta Region.
This meant focussing this year on formulating a framework agreement to develop specific measures arising from the Plan.
Good progress had been made in preliminary studies and drafting, with the aim of finalising the content within the year so it would be included in the National 12th Five-year Plan.
"Looking ahead, Hong Kong-Guangdong co-operation will emphasise enhancing the secondary sector of the economy and accelerating the development of the third sector, to promote further economic development of the two places, and even the country," Mr Tsang said.
The two jurisdictions will co-operate in building the Pan-Pearl River Delta Region into a green, high quality area to live, and in planning the construction of cross-boundary infrastructure.
They aim to begin operating the Liantang/Heung Yuen Wai boundary control point by 2018, and to start building the Guangzhou-Shenzhen-Hong Kong Express Rail Link's Hong Kong section by the end of the year.
The two sides will strive to finalise the implementation details for Hong Kong banks' establishment of "cross-location" sub-branches in Guangdong, and Hong Kong securities firms' joint-venture securities-investment advisory companies.
They have also agreed to jointly study emission-reduction arrangements for the Pearl River Delta Region beyond 2010.
Health authorities from the two places will hold a meeting soon to review local service providers' establishment of out-patient clinics in Guangdong, and recognition of medical practitioners. |
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The agreements signed include: |
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studying the promotion and development of modern service industry in Qianhai, Shenzhen; |
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implementing CEPA supplementary agreement 6 in October, and related trial schemes in Guangdong; |
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forming a task force to promote financial co-operation; |
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actively liaising for a consensus on the rail link between Hong Kong and Shenzhen airports, and establishing a checkpoint at Qianhai to facilitate people flow and logistics; |
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co-operating in joint prevention and control of diseases, including launching vaccine research, development and production; |
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encouraging local tertiary institutes to establish schools with Guangdong in the province; |
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improving regional air quality, promoting resource recycling and reuse, and clean production among enterprises; and |
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enhancing intellectual property development and protection. |
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