Shenzhen and Hong Kong rolled out respective regulations on promoting coordinated development of venture capitals on Sept 2. 

The cooperation in venture capitals is expected to create a win-win scenario as Shenzhen envies Hong Kong's capital, and Hong Kong looks forward to bigger development and market space that Shenzhen can provide in Qianhai, which is tailor-made to Hong Kong's needs.

The purpose of issuing the regulations is to strengthen collaboration of the two sides to boost science and technology innovation in both cities, and contribute to the construction of Guangdong-Hong Kong-Maocao Greater Bay Area as an international science and technology innovation center.

Moreover, Shenzhen and Hong Kong will establish a regular exchange and cooperation mechanism to advance the convergence of financial rules and mechanisms between the two sides, and promote connectivity of the financial markets between the two sides to serve the high-quality development of the real economy in the regions.