Contribution to HK stocks' capitalization
(Xinhua)
Updated: 2006-05-13 11:37
Listed enterprises from the Chinese mainland in the Hong Kong stocks have
greatly boosted their presence as latest statistics show that they have taken up
42 percent of Hong Kong Exchanges capitalization.
By the end of April
2006, a total of 344 enterprises from the Chinese mainland have been listed in
Hong Kong stocks, with a total capitalization of 4.053 trillion HK dollars
(about 523 billion U.S. dollars), or 42 percent of the entire stocks'
capitalization, said Paul Chow, chief executive of Hong Kong Exchanges and
Clearing Limited, while addressing the International Conference on China and the
Global Capital Markets held here Friday.
"Mainland enterprises listed in
Hong Kong have grown in number and significance," Chow said in his keynote
speech. "Without China, the capitalization of Hong Kong Stock Exchanges would
have been reduced by half."
Currently, the top 10 initial public
offerings in Hong Kong stocks are all mainland enterprises, including China
Construction Bank, China Unicom, China Life, Sinopec and China Shanghai Energy,
according to Hong Kong Exchanges.
Chow said mainland enterprises have
broadened the industry composition of the listed companies in Hong Kong,
widening the scope from mainly real estate in the early 1990s to currently
companies in mining, airport, banking, resources and insurance.
The
conference -- "China and the Global Capital Markets" -- was co-hosted by the
Hong Kong Institute of Certified Public Accountants (CPAs) and the Institute of
Chartered Accountants in England and Wales.
Groups of accounting
leaders, financiers and regulators sought to look at how China's thirst for
capital is affecting global capital markets and address capital market issues
ranging from global regulations to public trust in audited financial statements.
"As Chinese companies seek funds in capital markets worldwide, Hong Kong
accountants are playing a central role in bridging the gap between those
companies and international investors," said Paul Chan, president of the Hong
Kong Institute of CPAs, when addressing the conference.
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