2018年CRI HK marks 40th anniversary of China's reform and opening up

 

A forum¹ has been held in Hong Kong to mark the 40th anniversary of China's reform and opening up policy, with participants vowing² to make further contributions to China's national development for a new era.

The forum, called "A New Journey for a New Era: the Future of Hong Kong's Capital Market," was held at the offices of Hong Kong Exchanges and Clearing Limited.

Hong Kong's former chief executive CY Leung says the city has benefited a lot from China's reform and opening up policy and its capital market has been developing in accordance with China's national development.

The vice³ chair of China's top political advisory⁴ body, the Chinese People's Political Consultative Conference (CPPCC), points to the launch of two trading link programs, the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect, as two of the most significant achievements.

Leung vows⁵ that Hong Kong will take further steps to contribute to China's development.

"As China's only international financial center implementing⁶ the 'One China, Two Systems' principle, Hong Kong must not only integrate its own development into China's overall development but also make contributions to such sectors⁸ as the country is deepening reform, further opening up and going global to exchange with the world," says Leung.

Since 1993, when the first mainland company was listed on the Hong Kong market, more and more mainland firms have chosen Hong Kong as their ideal market for financing, with mainland enterprises accounting⁹ for two-thirds of Hong Kong's total market value.

The chair of Hong Kong Exchanges and Clearing, Laura Cha, says China's reform and opening up policy has provided more opportunities for Hong Kong's booming capital market.

"State-owned mainland companies that debut¹⁰ on the Hong Kong market can draw the attention of global investors¹¹. At the same time, the Stock Exchange of Hong Kong Limited and the Securities and Futures¹² Commission will keep upgrading their supervision¹³ capabilities¹⁴ so that the Hong Kong market can continue to globalize. Without the financing of mainland firms in Hong Kong, our capital market could not enjoy such a high status in the world," says Cha.

Hong Kong's financial sector⁷ will further help promote the Belt and Road Initiative, according to Edward Yau, Secretary for Commerce and Economic Development of Hong Kong Special Administrative¹⁵ Region's government.

"Hong Kong's financial sector will give a boost to the regional economic development by grasping the opportunities brought about by the Belt and Road Initiative and by making good use of the unique advantages of the 'One Country, Two Systems' principle. As an international financial center and the world's biggest offshore¹⁶ renminbi business center, and with a well-developed capital market, Hong Kong can provide the funds needed for the construction of infrastructure¹⁷ in the Belt and Road countries," says Yau.

In April, the Hong Kong Exchange announced new rules that allow companies that have dual-class shareholding¹⁸ structures, as well as biotech firms with no revenue yet, to apply for listing.

1 forum   

n.论坛，讨论会

参考例句：

• They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
• The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。

2 vowing   

起誓，发誓（vow的现在分词形式）

参考例句：

• President Bush is vowing to help Minneapolis rebuild its collapsed bridge. 布什总统承诺将帮助明尼阿波利斯重建坍塌的大桥。
• President Bush is vowing to help Minneapolis rebuild this collapse bridge. 布什总统发誓要帮助明尼阿波利斯重建起这座坍塌的桥梁。

3 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

4 advisory   

adj.劝告的，忠告的，顾问的，提供咨询

参考例句：

• I have worked in an advisory capacity with many hospitals.我曾在多家医院做过顾问工作。
• He was appointed to the advisory committee last month.他上个月获任命为顾问委员会委员。

5 vows   

誓言( vow的名词复数 )； 郑重宣布，许愿

参考例句：

• Matrimonial vows are to show the faithfulness of the new couple. 婚誓体现了新婚夫妇对婚姻的忠诚。
• The nun took strait vows. 那位修女立下严格的誓愿。

6 implementing   

v.实现( implement的现在分词 )；执行；贯彻；使生效

参考例句：

• -- Implementing a comprehensive drug control strategy. ――实行综合治理的禁毒战略。 来自汉英非文学 - 白皮书
• He was in no hurry about implementing his unshakable principle. 他并不急于实行他那不可动摇的原则。 来自辞典例句

7 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

8 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

9 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

10 debut   

n.首次演出，初次露面

参考例句：

• That same year he made his Broadway debut, playing a suave radio journalist.在那同一年里，他初次在百老汇登台，扮演一个温文而雅的电台记者。
• The actress made her debut in the new comedy.这位演员在那出新喜剧中首次登台演出。

11 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

12 futures   

n.期货，期货交易

参考例句：

• He continued his operations in cotton futures.他继续进行棉花期货交易。
• Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。

13 supervision   

n.监督，管理

参考例句：

• The work was done under my supervision.这项工作是在我的监督之下完成的。
• The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。

14 capabilities   

n.能力( capability的名词复数 )；可能；容量；[复数]潜在能力

参考例句：

• He was somewhat pompous and had a high opinion of his own capabilities. 他有点自大，自视甚高。 来自辞典例句
• Some programmers use tabs to break complex product capabilities into smaller chunks. 一些程序员认为，标签可以将复杂的功能分为每个窗格一组简单的功能。 来自About Face 3交互设计精髓

15 administrative   

adj.行政的，管理的

参考例句：

• The administrative burden must be lifted from local government.必须解除地方政府的行政负担。
• He regarded all these administrative details as beneath his notice.他认为行政管理上的这些琐事都不值一顾。

16 offshore   

adj.海面的，吹向海面的；adv.向海面

参考例句：

• A big program of oil exploration has begun offshore.一个大规模的石油勘探计划正在近海展开。
• A gentle current carried them slowly offshore.和缓的潮流慢慢地把他们带离了海岸。

17 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

18 shareholding   

n.股权

参考例句：

• Shareholding commercial banks must exercise an independent system of board of directors. 股份制商业银行必须实行独立董事制度。 来自互联网
• Asset re-structuring: to conduct shareholding reform for high quality assets. 资产重组：对优质资产进行股份制改造。 来自互联网