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A new list of strategic enterprises that agreed to set up or expand their operations in Hong Kong will be announced next month, with most of them related to artificial intelligence and big data industries, said Financial Secretary Paul Chan Mo-po.

The list, to be released by the Office for Attracting Strategic Enterprises (OASES), is expected to include more than ten firms from China, the U.S., and Europe.

In his latest weekly blog post, Chan observed that there has been a significant improvement in market sentiment, with the Hang Seng Index reaching its highest point in approximately two and a half years.

The financial chief believes that more companies, particularly those in the innovation sector, might be encouraged to go public in Hong Kong after China unveiled a series of stimuli to boost the ailing economy as well as the start of the rate cut cycle in the U.S.

He also highlighted the city’s listing system reforms that made it more appealing to innovation firms while expressing his hopes for the Securities and Futures Commission to balance regulation with market growth, embrace technology, and improve cross-border cooperation.

Chan also plans to lead a delegation to the Middle East at the end of the month to deepen cooperation with Gulf countries and promote Hong Kong’s latest developments and opportunities.

Over 10 strategic enterprises to establish business in HK: Paul Chan