The five liquidity-boosting measures announced by the country’s capital market regulator are expected to be launched this year, Julia Leung Fung-yee, CEO of the Securities and Futures Commission, said on Tuesday.

She said the city’s securities watchdog has reached a consensus with mainland authorities and is now discussing the details to ensure successful implementation.

Addressing the same event, Chief Executive John Lee Ka-chiu on Tuesday called on the city’s financial sector to be more proactive in integrating into the national development

Last month, the China Securities Regulatory Commission announced a package of initiatives such as adding more exchange-traded funds to the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect, opening up for real estate investment trusts, and supporting the inclusion of yuan-denominated stocks in the cross-border Stock Connect program.

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Financial Secretary Paul Chan Mo-po said the operational and technical preparations for relaxing the eligibility criteria for ETF products in the Stock Connect mechanism that links the two markets will likely take three months to be completed.

Chan made the remarks at a seminar promoting the collaborative development of mainland and Hong Kong financial markets, saying the city will maintain communication with the central government while striving for central support to expand and optimize mutual market access.

As of the end of March, the northbound trading has brought a net capital inflow of 1.8 trillion yuan ($249.39 billion) to the mainland stock market, while the southbound trading has brought a net capital inflow of HK$3 trillion ($383.59 billion) to the city, according to the finance chief.

Addressing the same event, Chief Executive John Lee Ka-chiu on Tuesday called on the city’s financial sector to be more proactive in integrating into the national development.

It is crucial to respond to the development of new productive forces in the country and better serve the advanced productive forces led by technological innovation, contributing to the high-quality development of the nation

As the national Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area plan take shape, Hong Kong’s functions and coverage as an international financial center and financing platform need enhancing, Lee told the seminar.

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“We expect the financial sector to seize the opportunity to actively expand its business into new areas and emerging markets, and make concerted efforts to attract domestic and overseas capital and enterprises to Hong Kong,” he said.

Lee also expressed his expectation that industry pays greater attention to innovative technology and adopts new mindsets to address the challenges.

“It is crucial to respond to the development of new productive forces in the country and better serve the advanced productive forces led by technological innovation, contributing to the high-quality development of the nation,” he said, adding that industry players should also leverage the city’s international characteristics and help promote Hong Kong’s profile to the world.