Hong Kong aims to become IPO hub and attract family offices, according to Investing.com

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The Global Financial Leaders Investment Summit hosted by the Hong Kong Monetary Authority (HKMA) concluded on Tuesday, focusing on Hong Kong’s future as a global financial center. The summit was held at the Four Seasons Hotel, bringing together 300 leaders from 160 international financial institutions, including 90 senior executives.

The keynote session titled “Living with Complexity” discussed key industry challenges such as uncertain inflation, global growth headwinds, monetary tightening and the changing investment environment. The summit also highlighted long-term trends in China’s economy, technology and sustainable development. The event culminated in the “Dialogue with Global Investors” forum.

Hong Kong Chief Executive John Lee stressed the sound development of Hong Kong’s financial market and its central role in global business and finance. He also emphasized deepening relations with mainland China and the Greater Bay Area. One key initiative he mentioned was Hong Kong’s investment immigration program, which aims to attract 200 new family offices by 2025.

Although Hong Kong ranks ninth in the world for the number of listings, with just 42 companies listed in the first nine months of this year, China Securities Regulatory Commission Vice Chairman Wang Jianjun pledged to support comprehensive measures to promote the development of Hong Kong’s capital market. He announced plans to promote Hong Kong as an initial public offering (IPO) center and make it easier for mainland companies to list in Hong Kong.

Wang also revealed plans to expand cross-border stock trading through Stock Connect and introduce block trading to speed up transactions. The China Securities Regulatory Commission plans to launch government bond options in Hong Kong and is supporting Hong Kong Exchanges and Clearing (HKEx) in launching a new renminbi stocks desk. These RMB stocks, with a total market capitalization of HK$12 trillion, will be available for trading by mainlanders through Shanghai-Hong Kong Stock Connect in the future.

Chinese Vice Prime Minister He Liping emphasized Hong Kong’s important role as a bridge between China and the world. In his closing speech, he encouraged industry leaders to have in-depth discussions and propose solutions to the complex global macro situation.

Despite the current complex and volatile situation, including the two major financial crises we have dealt with before, the Chief Executive of the HKMA, Eddie Yue, remains optimistic about finding opportunities amidst challenges. He also celebrated the 30th anniversary of the establishment of the Hong Kong Monetary Authority and affirmed Hong Kong’s rise as a global financial center.

This article was created and translated with the help of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.

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