Dear Guangdong Provincial Party Committee Secretary Hu Chunhua,

Dear CSRC Chairman Liu Shiyu, Dear SFC CEO Mr. Ashley Alder,

Distinguished Leaders and Guests, Ladies and Gentlemen,

It is with great pleasure today that we are gathered in Shenzhen, the showcase of China’s reform and opening up at the historic moment to witness the official launch of Shenzhen-Hong Kong Connect. This is another major event in China’s opening up of the capital market following the launch of Shanghai-Hong Kong Connect. I believe this will definitely exert a positive and profound influence on the reform and development of China’s capital market and will vigorously promote the joint development of the financial and securities markets of the Mainland and Hong Kong, in particular those of Guangdong Province and Hong Kong. On this occasion, entrusted by Guangdong Provincial Party Secretary Hu Chunhua and Governor Zhu Xiaodan, on behalf of Guangdong Provincial Party Committee, Guangdong Provincial Government, Shenzhen Municipal Party Committee and Shenzhen Municipal Government, I wish to extend my congratulations on the successful launch of Shenzhen-Hong Kong Connect, and extend sincere welcome to all our distinguished leaders and guests.

The securities industry is the core component of the nation’s modern financial system, and also an important force to boost transition in economic growth drivers and to achieve mid and high-end development under the new economic normal. As China’s key financial province, Guangdong has always given priority to the development of the financial and securities industry, accelerating the planning of financial and securities institutions, and enhancing the composition of securities and other financial institutions. So far, 464 companies in the province have been listed domestically, fully demonstrating the role of the securities and capital markets in facilitating the province’s innovative development, economic transformation and upgrading. According to the deployment of the central government and the provincial government, Shenzhen actively promotes innovative growth of the securities industry. Shenzhen has built a number of major platforms including Shenzhen Stock Exchange (SZSE), Qianhai Equity Trading Center and HKEx-Qianhai Joint Trading Center. We have introduced and cultivated 20 securities companies, 24 public fund companies, 13 futures companies and 221 domestically listed companies. Thus we have gradually built up a dynamic and well-functioning multi-tiered capital market system. With the strong support and boost from financial and securities markets, the economic growth of Guangdong and Shenzhen has achieved a new level. For the first three quarters of this year, Guangdong province’s GDP grew 7.3%, and local general budget revenue increased by 14%. Shenzhen’s GDP  witnessed a growth of 8.7%, two percentage points higher than the national level in the same period, while local general budget revenue jumped by 20.1%, ranking No.2 among 36 provincial budgeting units. We are proud to say that Shenzhen is actively leading the new normal economic growth with a robust development momentum.

Currently, we are conscientiously implementing the spirit of the Sixth Plenary Session of the 18th CPC Central Committee and will resolutely safeguard the core leadership role of General Secretary Xi Jinping. Guided by the important instructions given by General Secretary Xi Jinping during his inspection tour to Guangdong and Shenzhen, we will take the lead in implementing the “Four Comprehensives” and practicing the “Four Confidences”, and accelerate our efforts in achieving the goal of “Three Positionings and Two Leads”. In the process, we need to both vigorously promote the real economy that centers on the high and new technology industry and the high-end manufacturing industry, and better utilize the important supporting role of the multi-tiered capital market for the real economy. We will accelerate the dual-wheel driving model and positive interaction between the financial industry and the real economy and further strengthen the sustainable economic development capacity. We hope that China Securities Regulatory Commission (CSRC), other state financial regulatory authorities and various domestic and overseas financial organizations and institutions will take the opportunity of Shenzhen-Hong Kong Connect to strongly support fund-raising by listing, merger and acquisition and corporate restructuring by more companies from Guangdong, and help more quality enterprises consolidate in size and strength so as to generate new growth drivers for regional economic development. Meanwhile, we will continue to fully support the work of the CSRC and the development of financial institutions in Guangdong and Shenzhen. Together with them, we will speed up development in Guangdong as a strong financial province and Shenzhen as an international financial and innovation center and strive to make more contribution to the overall national development.

Finally, I wish Shenzhen-Hong Kong Stock Connect a great success!

Thank you.