HK, Shenzhen study bourse co-op plan
( 2003-08-06 11:09) (China Daily HK Edition)
A team from the Hong Kong and Shenzhen bourses is to work together to study potential co-operation strategies.
Paul Chow, chief executive of Hong Kong Exchanges and Clearing (HKEx), revealed this to reporters Tuesday, but did not give details.
Market reports have it that Shenzhen's B-share market may link with Hong Kong's Growth Enterprise Market so that investors can trade stocks in both bourses. But Chow said this topic was not addressed during their talks.
He said HKEx will also look into possibilities to provide clearing service of renminbi-denominated products, as Hong Kong may be allowed to conduct renminbi business.
Speaking during HKEx's promotion conference here yesterday, Chow emphasized that attracting more mainland companies to list on the exchange would be HKEx's important development strategy in the following years.
HKEx would further improve efficiency and provide even better services to mainland companies, he vowed.
With the signing of CEPA (closer economic partnership arrangement) between the mainland and Hong Kong, Chow expected more Guangdong companies would choose to go public in HKEx.
Frederick Ma, secretary for the financial services and the treasury,expected more mainland companies would use Hong Kong as a bridge to expand their presence in the international market.
In his speech at the Guangzhou conference, Ma said he welcomes mainland companies to raise funds in Hong Kong where the capital market is completely open to investors from around the world.
Li Chunhong, deputy secretary-general of Guangdong Provincial Government, expected to expand co-operation with Hong Kong in attracting international capital.
By the end of last month, a total of 242 mainland companies had been listed in HKEx, accounting for 24 per cent of the total.
The mainland companies have raised HK$1,170 billion (US$150.2 billion), representing 28 per cent of the HKEx's total.
|
