Hong Kong Exchanges and Clearing (0388) will focus on becoming more competitive to make the city a favored listing destination for top companies from around the world, chief executive Bonnie Chan Yi-ting says.
To this end, the exchange will open an office in Riyadh, Saudi Arabia, and boost its resources to attract more investments from European, American and Southeast Asian markets, Chan said at a ceremony to commemorate the start of trading in the Year of the Snake.
This year marks the 25th anniversary of the HKEX's listing in the city, back in 2000, and over this period the exchange has gone through two cycles of development, she said.
The first 12 years saw the HKEX consolidate securities, derivatives and clearing operations and the next 12 witnessed the launch of the Stock Connect schemes and accelerated development of China-related business, she said.
Looking ahead, Chan said the HKEX will focus on expanding the Connect's product range, optimizing operational mechanisms and attracting more investments from mainland, international, retail and institutional investors.
Overseas investors today are more focused on how much – rather than when – they should increase their allocations for Hong Kong and mainland markets, Chan pointed out.
Chan also said work is under way to find warehouse operators following the London Metal Exchange's approval of Hong Kong as warehouse location, and progress will be made in the next six months.
STAFF REPORTER
