LJZ(SH:600663) Hua Xia Shi Bao·2025-06-20 04:40Core Viewpoint - The collaboration between Shanghai and Hong Kong is a natural choice for both cities as they are complementary financial centers, enhancing their roles in the international financial landscape [1][5][10]. Group 1: Cooperation Framework - The "Shanghai-Hong Kong International Financial Center Collaborative Development Action Plan" was signed on June 18, outlining six areas of deep cooperation, including infrastructure connectivity and offshore financial strategies [1][6]. - The action plan aims to support cross-border financial services innovation and green finance development, enhancing the existing cooperation framework established since the launch of the Shanghai-Hong Kong Stock Connect in 2014 [6][7]. Group 2: Financial Market Dynamics - Shanghai serves as a key onshore financial hub, with the Shanghai Stock Exchange ranking third globally in market capitalization and leading in bond custody and gold trading volumes [2][4]. - Hong Kong, as the largest offshore RMB business center, has over 1.19 trillion RMB in deposits and has been a crucial channel for mainland enterprises to access international capital [4][5]. Group 3: Future Opportunities - The collaboration is expected to provide more financing opportunities for technology innovation enterprises and increase the demand for cross-border RMB payment settlements [8]. - The partnership will facilitate the establishment of financial centers in both cities, supporting mainland enterprises in their international expansion efforts [7][9]. Group 4: Strategic Importance - The synergy between Shanghai and Hong Kong is seen as a catalyst for the internationalization of the RMB and the integration of China's financial markets into the global system [9][10]. - The relationship is characterized by complementary strengths, with Shanghai focusing on domestic economic cycles and Hong Kong linking global capital networks [4][5].