Press Releases

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5 December 2003

Mainland/Hong Kong Closer Economic Partnership Arrangement -Arrangements relating to Qualifications of Securities and Futures Industry Practitioners

Further to the announcement made on 21 November 2003, the SFC is pleased to announce that the "Mainland/Hong Kong Closer Economic Partnership Arrangement - Arrangements relating to Qualifications of Securities and Futures Industry Practitioners" (the Arrangement) has already been signed by the China Securities Regulatory Commission (CSRC) and the SFC. The Arrangement records the consensus reached between the CSRC and the SFC on the implementation of the commitments in respect of securities and futures industry practitioners under the Mainland/ Hong Kong Closer Economic Partnership Arrangement. It facilitates the flow of qualified personnel and expertise between the Mainland and Hong Kong, which we believe will benefit the development of both markets. In assisting the industry in understanding the Arrangement and the details of implementation, the SFC has posted a set of Frequently Asked Questions on its website (under "Intermediaries, Licensing and Investment Products" - "Licensing Related Matters" - "Frequently Asked Questions"). The Frequently Asked Questions will be updated as and when necessary. Ends