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Cheng: HK’s rule of law boosts development of financial market

Hong Kong’s Secretary for Justice Teresa Cheng Yeuk-wah (left) meets with President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun in Beijing on July 30, 2021. (PHOTO / INFORMATION SERVICES DEPARTMENT, HKSAR GOVT)

HONG KONG – Hong Kong’s justice chief said Friday that the city’s robust legal system and strong rule of law contributed to the healthy development of its financial market. 

Secretary for Justice Teresa Cheng Yeuk-wah made the remarks during a meeting with President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun in Beijing.

Secretary for Justice Teresa Cheng Yeuk-wah said that legal exchanges with international organizations would aid in the sustainable development of the Hong Kong legal community

Noting that the Department of Justice (DoJ) signed an agreement with AIIB in June for the secondment of a DoJ legal officer to its legal department, Cheng said that exchanges with international organizations would aid in the sustainable development of the Hong Kong legal community. Such legal exchanges are also conducive to the development of Hong Kong’s position as a leading international legal and dispute resolution services center, she added.

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During a separate meeting with the Department of Treaty and Law of the Ministry of Commerce (MOFCOM), Cheng said the DoJ will continue to organize the Investment Law and Investor-State Mediator Training Course, in a bid to develop Hong Kong into an international investment law and international investment dispute resolution skills training base, and to build up a team of investment mediators in Asia to handle international investment disputes.

Cheng also attended the signing ceremony of the memorandum of cooperation under the tripartite communication platform jointly held by the MOFCOM department, the Bureau of Policies, Laws and Regulations of the State-owned Assets Supervision and Administration Commission of the State Council and the DoJ. 

The platform serves as a communication channel between mainland enterprises and the Hong Kong legal profession to connect mainland enterprises with Hong Kong legal experts in various areas. 

READ MORE: Experts: Good prospects for HK legal sector

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