Hong Kong Financial Services and the Treasury Bureau concludes Suzhou visit centered on support for mainland companies expanding overseas

Hong Kong's Financial Services and the Treasury Bureau said Secretary for Financial Services and the Treasury Christopher Hui and a financial delegation had concluded a visit to Suzhou before departing for Shanghai to attend the Lujiazui Forum. The Suzhou leg focused on how Hong Kong's financial sector can support Chinese Mainland companies expanding abroad, with discussions covering financing, compliance and other cross-border business needs. The delegation held a networking luncheon with representatives from 14 enterprises and discussed cross-boundary financial support, international compliance requirements, cross-boundary tax planning and the use of captive insurers to protect overseas industrial chains. It also met the Secretary of the CPC Suzhou Municipal Committee and the Governor of the Jiangsu Branch of the People's Bank of China. Separate exchanges took place with Jiangsu Jinfu Digital Tech Group on digital finance and artificial intelligence-driven financial applications, with Innovent Biologics, and with Zhongyifeng Holding Group, which has put in place a plan to establish a holding subsidiary in Hong Kong for integrated energy management and related software and hardware development. Before leaving Suzhou, the delegation discussed fintech and e-CNY with the Jiangsu branch of the People's Bank of China and reviewed practical use cases of the digital renminbi. The delegation then traveled to Shanghai for the Lujiazui Forum.