Some Central Asian state-owned infrastructure firms are eyeing Hong Kong listings, Financial Secretary Paul Chan Mo-po said on Sunday, as the city strives to strengthen connectivity with countries in the Belt and Road Initiative.
Currently, more than 100 firms from the Belt and Road regions have been listed on the Hong Kong Stock Exchange, with the total market valuation exceeding HK$340 billion, Chan wrote in his weekly blog.
The number of bonds from the region listed in the city also reached 82 as of July, raising over HK$470 billion, Chan added.
Meanwhile, the city has seen a wave of offshore yuan bond issuances by governments, public institutions and enterprises from Southeast Asia, Central Asia and the Middle East in recent years, he said, citing a 9.25 billion yuan (HK$10.81 billion) dim sum bond issuance of the Indonesian government and Kazakhstan's state-owned oil and gas company KazMunayGas's 3.5 billion yuan dim sum bond sale.
Chan noted that an international banking giant from the Gulf countries will open its Hong Kong office this week, underscoring the city's role as an anchor for long-term capital and a platform for Asia-Pacific business expansion.
Over 930 companies from ASEAN and the Middle East have set up businesses in Hong Kong, up nearly 50 percent from five years ago, he said.
Hong Kong is also the preferred "go global" professional service platform for Chinese mainland firms to develop business in Belt and Road markets, he added, citing the survey from the Hong Kong Trade Development Council.
The upcoming Belt and Road Summit would reinforce Hong Kong’s role as a critical springboard for helping mainland enterprises to expand overseas, with a new Go Global Chapter session, Chan said.
The summit, which will be held at the Hong Kong Convention and Exhibition Centre on Wednesday and Thursday, would feature energy, artificial intelligence, low-altitude economy, city development and other areas, along with site visits, creating more room for exchange and collaboration under the new pattern of two-way empowerment, Chan added.
