Bourse welcomes news of a Macau stock market

Business | 10 Jan 2020 4:06 pm

In response to news that Macau is likely to set up a stock exchange, Charles Li Xiaojia, chief executive of Hong Kong Exchanges and Clearing (0388), said that he is not worried that Hong Kong would lose its role.

He reckons that the proposal came from Macau instead of the central government and believes Hong Kong, as a mature financial hub, could face the competition.

Meanwhile, he mentioned that late leader Deng Xiaoping once said he has three expectations of Hong Kong.

One expectation of Hong Kong returning to China, has been achieved, Li said. Beijing would review the other two expectations, namely good governance and the return of Hongkonger's mindset. He believes that 2019 was the turning point.


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