From March 18th to 22nd, Lv Jiajin, the Party Secretary and Chairman of IB, led a delegation to Hong Kong for an in-depth research visit. Adhering to the spirit of the Central Financial Work Conference and the national “Two Sessions,” the delegation engaged in extensive research, visits, and exchanges with enterprises and financial institutions to deepen cooperation and support mutual development. During the visit, Lv also participated in the Financial Services Development Cooperation Forum between Fujian and Hong Kong.
The Central Financial Work Conference emphasized the need to consolidate and enhance Hong Kong’s status as an international financial center. “Hong Kong, with its unique advantages of being backed by the motherland and connected to the world, serves as a pivotal gateway for our international development and a crucial support point for the ‘Belt and Road’ initiative,” Lv stated. “This visit to Hong Kong aims to integrate IB’s capabilities with Hong Kong’s strengths through in-depth research, cooperation, and exchange, thereby better serving the cooperation between Fujian and Hong Kong and the national development strategy.”
On the afternoon of the 18th, Lv Jiajin and his team met with Liang Fengyi, chief executive of the Hong Kong Securities and Futures Commission, to understand the development trends and regulatory policy directions and requirements of Hong Kong’s capital market. They engaged in thorough discussions on overseas institutional planning, cross-border custody, and cross-border wealth management, exploring new directions for IB’s international development and business expansion in Hong Kong, and actively contributing to the construction of Hong Kong as an international financial center.
The deep-rooted connections between Fujian and Hong Kong have contributed to their good cooperative relationship historically. During his tenure in Fujian, President Xi Jinping placed great emphasis on Fujian-Hong Kong exchanges and cooperation, leading delegations to visit Hong Kong multiple times and promoting the establishment of the Fujian-Hong Kong Economic and Trade Cooperation Promotion Association, laying a solid foundation for bilateral exchanges and cooperation. In recent years, the two sides have established the “Fujian-Hong Kong Cooperation Conference” mechanism, based on which the cooperation through high-level meetings and mutual visits has deepened, with substantial results achieved in trade, finance, education, culture, and other fields.
On the afternoon of the 20th, commemorating the 10th anniversary of Industrial Bank’s Hong Kong Branch, in collaboration with the Department of Commerce of Fujian Province, hosted the Fujian-Hong Kong Financial Services Development Cooperation Forum at the Hong Kong Financial Hall. The forum aimed to deepen Fujian-Hong Kong collaboration to new levels, broader domains, and higher standards. Representatives from the Liaison Office of the Central People's Government in the Hong Kong S.A.R, the Government of the Hong Kong S.A.R, the Department of Commerce of Fujian Province, the Fujian Tourism Development Group, the Hong Kong Trade Development Council, the Hong Kong Quality Assurance Agency, the Hong Kong Federation of Fujian Associations, as well as economists, entrepreneurs, and financial institution executives from both regions participated in the forum.
In his video address, the Chief Executive of the Hong Kong S.A.R, John KC Lee (“Li Jiachao” in Chinese), remarked that Fujian, known for its large diaspora, has always maintained a close relationship with Hong Kong. Many Fujianese moved to Hong Kong in earlier years, making it the second-largest source of Hong Kong’s population by ancestry. Additionally, Hong Kong stands as the largest source of foreign investment in Fujian, highlighting vast potential for bilateral cooperation. With the Fujian-Hong Kong cooperation mechanism continually maturing and yielding fruitful outcomes, there is an eager anticipation for both regions to proceed in tandem, striving collectively to forge a brighter future for Fujian-Hong Kong collaboration.
Lv Jiajin stated that IB is a witness and beneficiary of the collaborative development between Fujian and Hong Kong and the broader Chinese narrative. Going forward, IB will steadfastly uphold “one country, two systems,” leveraging its strengths of “Three Pillars of Our Businesses” as a Green Banking, Wealth Bank, and Investment Bank, along with the advantages in financial industry collaboration, to better meet the financial needs of clients in both regions. The Bank is committed to fostering talent exchanges and interaction, contributing to Hong Kong’s consolidation and enhancement as an international financial center, and injecting fresh financial vitality into the high-quality economic and social development of both Fujian and Hong Kong.
To further deepen the integration between Fujian and Hong Kong in ports, cultural tourism, and youth exchanges, strategic cooperation signing ceremonies were held at the forum between the Fujian Provincial Port Group and China Merchants Port Holdings, the Fujian Tourism Development Group and China Travel International Investment Hong Kong (CTG International), and Fuzhou No.1 High School of Fujian and Pui Kiu Middle School of Hong Kong.
Accelerating the construction of a financial powerhouse necessitates the development of a formidable international financial center and the cultivation of robust financial institutions. Hong Kong, as an international financial center, hosts a plethora of financial institutions, stands as the world’s largest offshore Renminbi market, and serves as Asia’s most crucial asset management and private wealth management hub, playing a pivotal role in China’s journey toward becoming a financial powerhouse.
“IB places great emphasis on leveraging Hong Kong’s role as an international financial center. As early as 2014, we established our first overseas branch there,” stated Lv Jiajin. Over the past decade, leveraging Hong Kong’s premier business environment, the Hong Kong Branch has achieved significant and rapid development. Moving forward, Hong Kong Branch will use Hong Kong as a fulcrum to accelerate its internationalization, actively expand into Southeast Asia, serve the “Belt and Road” initiative, and integrate into the new dual circulation development pattern.
During their stay in Hong Kong, under the witness of Chen Liang, Chairman of China International Capital Corporation (CICC), Li Qianxin, Chairman of CCB International, and Zhou Jie, Chairman of Haitong Securities, IB signed a strategic cooperation agreement with China International Capital Corporation. Additionally, IB’s Hong Kong Branch entered into strategic cooperation agreements with CCB International and Haitong International, enhancing resource sharing, complementary advantages, and talent exchanges at the strategic level. Together, they explore the path of financial development with Chinese characteristics, contributing to the construction of a financial powerhouse.
Furthermore, Lv Jiajin and his delegation met with Yang Jie, Chairman of China Mobile, Chen Zhongyue, Chairman of China Unicom, Adrian Cheng (“Zheng Zhigang” in Chinese), CEO of New World Group, Pansy Ho (“He Chaoqiong” in Chinese), Chairman of Shun Tak Holdings, and Di Haosi, President of Crédit Agricole Corporate and Investment Bank for the Asia-Pacific region. They discussed exploring cooperative directions, deepening levels of cooperation, and expanding cooperative fields.
Executives from IB’s Hong Kong Branch, relevant subsidiaries, and head office departments participated in the visit.