Shanghai should strengthen financial sector cooperation with Hong Kong to improve the economies of both cities, Tse Yung Hoi, chairman of Bank of China International-Prudential Asset Management Ltd, said yesterday at the annual meeting of Shanghai Committee of the Chinese People's Political Consultative Conference.
He said the two cities should set up a high-end talent pool to support the Shanghai-Hong Kong Connect share market and encourage financial institutions to develop index companies to meet the market's needs.
"Shanghai and Hong Kong still have huge room for further financial cooperation," he said. "We should determine potential breakthrough points to better serve the real economy and make our financial market more secure."
The government should also monitor cross-border capital flows to ease stock market and foreign exchange volatility.