Hong Kong stock exchange wants to become the 1 market in Asia Pacific
The operator of the Hong Kong stock exchange wants to become the number one investment platform in Asia. The operator launched a three-year plan to become the financial centre of Asia Pacific and the gateway for investment in and out of mainland China.
With the plan, the operator – Hong Kong Exchanges and Clearing – intends to lure woo Asia-Pacific companies to list in this city. In a bid to win the competition with rival stock exchanges in US and mainland China, the Hong Kong stock exchange
The South China Morning Post quoted Charles Li Xiaojia, chief executive of Hong Kong Exchanges and Clearing, saying that Hong Kong will become a hub for Asia-Pacific and other companies in the world to list. To become more successful in attracting companies, the operator wants to shorten the length of time it takes for initial public offerings. The company will lobby Beijing to expand the stock connect schemes to allow mainlanders to buy into these international stocks after listing in Hong Kong and also during an IPO.
South China Morning Post report mentions Refinitiv data that show that HKEX’s main board was the No 1 IPO market worldwide last year in terms of funds raised at US$36.82 billion, much higher than other Southeast Asian markets.
Further reading on scmp.com