Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
HONG KONG, May 26 (Xinhua) — Chen Mao-bo, head of the Hong Kong Special Administrative Region’s Finance Department, said that since the beginning of this year to date, the Hong Kong Special Administrative Region has raised over 76 billion Hong Kong dollars through initial public offerings (IPOs) on the local stock exchange, an eight-fold increase compared to the same period last year and reaching about 90 percent of last year’s total.
In an online report posted by the official on Sunday, he said that despite the uncertainties in the external environment, the Hong Kong SAR is making every effort to seize opportunities to play the role of a “super-connector” between China’s interior and the rest of the world.
Last week, Hong Kong SAR hosted two major financial forums, with many foreign investors pledging to use Hong Kong to increase their asset allocation to the Chinese interior and the rest of Asia. The Hong Kong Stock Exchange also saw its largest IPO of the year last week.
In addition, the Hong Kong Investment Management Company organized the first international forum on “patient capital”. Speaking at the forum, representatives of science and technology enterprises noted that the event allowed them to get acquainted with many potential investors and long-term funds, which will help accelerate the connection between capital and innovative science and technology enterprises.
On May 23, the Hong Kong SAR’s relocation regulations came into effect. On the same day, a major international insurance company announced its intention to relocate to Hong Kong and make Hong Kong its place of registration.
Chen Maobo noted that due to the excellent performance of the stock exchange, more and more companies are choosing to set up their headquarters, research centers and regional offices in the Hong Kong SAR, which in turn demonstrates the confidence of investors and enterprises in the Hong Kong SAR. -0-