Professionals to bridge cross-border industry and development needs

The central government has recruited 40 accountants in Hong Kong to improve the exchange of talent across the border and serve the nation's economic development.

The Ministry of Finance and the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region hosted a ceremony in Hong Kong on Tuesday to dispatch letters of appointment to those recruited.

"The Hong Kong accounting industry has a high degree of internationalization and professionalization. The Hong Kong accounting professionals can play a bridging role in fostering accounting industry collaboration across the border," Vice-Minister of Finance Xu Hongcai said from Beijing in a message delivered by webcast.

The accountants will give the central government advice on industry development across the border.

An initial batch of 39 Hong Kong accountants was recruited by the ministry in 2016.

Hong Kong Financial Secretary Paul Chan Mo-po said its accounting professionals have contributed to the nation's economic development in the era of reform and opening-up.

"They play the crucial middleman role in developing the nation's capital market," he said.

"In aligning the nation's accounting and auditing industry with international standards, enhancing talent exchanges and enabling the nation's accounting and auditing industry to make their voices heard on the international stage, the Hong Kong accounting professionals have made positive contributions."

Chan said he hoped the accountants can leverage their roles further by giving recommendations to the central and Hong Kong Special Administrative Region governments regarding socio-economic development.

The Hong Kong SAR government is eager to work with accounting professionals in Hong Kong to push the industry to embrace national economic development more promptly and comprehensively, he said.

The accounting industry plays a vital bridging role in the economic integration process by providing a generally accepted economic and business language, the deputy director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, Tan Tieniu, said at the ceremony, adding that whenever there are capital flows and investment, the need for cross-border accounting services follows.

"As the nation is the second-largest economy, cross-border exchanges between various industries on the mainland and in Hong Kong will take more in-depth forms," he said.

"More professionals across the border have contributed to the nation's capital market reforms, not only fostering industry development but also contributing to the nation's development."