Hong Kong and Mainland China Sign Water Cooperation Agreement to Enhance Resource Management and Safety

HKSAR Government signs co-operation arrangement with Ministry of Water Resources

The Chief Executive, Mr John Lee, met with the Minister of Water Resources, Mr Li Guoying, at the Government House today (April 1) to witness the signing of an arrangement between the Ministry of Water Resources and the Hong Kong Special Administrative Region (HKSAR) Government on the management and co-operation of water-related affairs.

The Secretary for Development, Ms Bernadette Linn, and the Director General of the General Office of the Ministry of Water Resources, Mr Tang Liang, represented the HKSAR Government and the Ministry of Water Resources respectively to sign the arrangement. The arrangement will strengthen the governance and protection of the Pearl River Estuary and the rivers along the Guangdong-Hong Kong boundary, and promote co-operation in disaster prevention and mitigation; water supply safety; planning and management of major projects; information sharing; talent cultivation; hydraulic technology and more.

Mr Lee expressed his gratitude to the Ministry of Water Resources for its continuous and full support of Hong Kong's efforts in water supply and flood prevention. He said, "This year marks the 60th anniversary of Dongjiang water supply to Hong Kong. It is of great significance that the HKSAR Government and the Ministry of Water Resources signed the arrangement at this milestone to strengthen co-operation on water-related affairs in the Guangdong-Hong Kong-Macao Greater Bay Area. The HKSAR Government will continue to adhere to the principles of water conservation and enhancement of utilisation efficiency and work together with the Ministry of Water Resources to ensure the safety of water supply to Hong Kong and flood control safety of the Pearl River Estuary and the rivers along the Guangdong-Hong Kong boundary, and to provide water resources support and guarantee for the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area."

Mr Li said that establishing a standing mechanism for exchange and co-operation marks a new milestone in water affairs co-operation between the Mainland and Hong Kong. He said, "The Ministry will strengthen water resources co-operation with the HKSAR Government on all fronts, continuously enhance the water safety system in the Greater Bay Area, and provide stronger water safety guarantees for high-quality development in the Guangdong-Hong Kong-Macao Greater Bay Area."

HKSAR Government signs co-operation arrangement with Ministry of Water Resources Source: HKSAR Government Press Releases

HKSAR Government signs co-operation arrangement with Ministry of Water Resources Source: HKSAR Government Press Releases

Remarks by FS at media session (with photo/video)

The Financial Secretary, Mr Paul Chan; the Secretary for Financial Services and the Treasury, Mr Christopher Hui, and the Secretary for Commerce and Economic Development, Mr Algernon Yau, together with the Chief Executive Officer of the Securities and Futures Commission, Ms Julia Leung, and the Chief Executive of the Hong Kong Monetary Authority, Mr Eddie Yue, met the media this evening (April 7). Following are Mr Chan's remarks at the media session:

Reporter: What tools does the Government have to handle the situation of the market and will Hong Kong consider a national team investor equivalent to intervene? Should the markets keep dropping, what is the bottom line for the state of the market before countermeasures will be considered?

Financial Secretary: I think Julia has explained very clearly the situation in the Hong Kong stock market. Basically, the market has been functioning orderly. There are substantial selling but also buying interests. The spread between the two has been very tight, indicating that the buying power remains very strong.

Hong Kong is a free port, and we encourage capital and investors from different parts of the world to take part in our capital market. Over the years, we have been taking a number of measures to enhance the competitiveness and attractiveness of our capital market, no matter whether it is improving the listing regime, lowering the transaction costs, expanding the markets, attracting investors and capital from around the world, or offering new products such as the ETF (exchange-traded fund) listed on the Saudi stock exchange (and investing in the Hong Kong stock market). All in all, we will persistently and consistently push forward initiatives on various fronts. With an expanding market and more participants from different parts of the world, the liquidity and resilience of our market will be enhanced. The resilience of our market has been very strong. We do not think the current volatility in the market warrants the taking of any drastic measures.

(Please also refer to the Chinese portion of the remarks.)

Remarks by FS at media session (with photo/video) Source: HKSAR Government Press Releases