Speech at Council meeting – Q1 Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone

Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone


Thank you, President.  It is mentioned in the main reply that the authorities are taking forward the relevant work on the 30 financial measures for Qianhai along five directions, prioritizing financial innovation relating to people’s livelihood and enabling Hong Kong residents to use mobile e-payment tools in Qianhai.  In 2011, the Mainland implemented the Data Security Law and the Personal Information Protection Law for regulation of personal data security.  I would like to ask if the Bureau will work with the Qianhai authorities to explore how to allow the cross-boundary flow of personal financial information, so as to truly facilitate the development of e-payment in the two places.  Thank you.


Thank you, President.  This issue has always been part of our communication with the Qianhai authorities; with our gradual integration into the economy of GBA, e.g. the increasing demand for loans, there is an actual need to implement cross-boundary credit sharing in GBA; thus, we also need to consider the specific implementation.

At present, we will first promote and plan the cross-boundary credit measures for enterprises because it is relatively straightforward and simple to regard cross-boundary credit for enterprises as the starting point.  Of course, our approach and primary principle must be complying with the laws of the two places; secondly, we emphasize security and controllability, and thirdly, we emphasize commercial voluntariness; we can then plan the arrangements for credit connectivity.  In this regard, we hope that the arrangements can be extended to banks in the Mainland cities in GBA in the future so that they can access the credit information of Hong Kong customers in Hong Kong banks, which will help small and medium enterprises obtain financing and enhance the efficiency and cost-effectiveness of our banking services.  Of course, we attach importance to the market-driven principle while considering whether practical efforts can be made in the light of the relevant demands, and how we can continue to make efforts according to the major principles mentioned earlier.  Thank you, President.