Hong Kong and Shanghai will sign a deal to increase collaboration in the financial sphere at the Lujiazui Forum on Wednesday, as the cities strengthen links to better withstand the implications of geopolitical tensions.
Financial Secretary Paul Chan Mo-po will be present for the signing of an action plan for collaborative development between the two cities on the opening day of the two-day forum in Shanghai, according to a statement from the Hong Kong government, which did not provide more details.
The agreement would map out a blueprint for cooperation in “multiple layers and fields”, according to people familiar with the matter. Speculation is buzzing that the two cities will expand the “connect” schemes that allow cross-border trading and start trials of financial derivative products involving foreign currencies and commodities.
Details would emerge after discussions in a closed-door meeting on Thursday that would be…
