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Group to push SAR cause on mainland

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A 40-strong Hong Kong delegation will urge the mainland to open its securities industry to SAR brokers during a five-day visit to Beijing next week.

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The group will be led by the legislative councillor for the financial services industry, Fung Chi-kin, and former stock exchange council member Christopher Cheung Wah-fung.

They will meet senior mainland officials, including executives of the China Securities Regulatory Commission (CSRC) and members of the Chinese People's Political Consultative Conference and National People's Congress.

It is the first high-level visit by a Hong Kong securities industry delegation since 1996.

'Our key agenda on this visit is to discuss with the Beijing officials whether China will gradually open up the financial sector for us [SAR brokers],' Mr Cheung said.

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With Beijing expected to open its financial-services sector to foreigners ahead of its expected World Trade Organisation entry, Hong Kong brokers are keen to secure first-mover advantage.

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