,"name":"Comment","item":{"@type":"Thing","@id":"https://www.thestandard.com.hk/comment"}}]}]17:T6a8,Staff reporter

China's capital market is expected to grow to 100 trillion yuan (HK$121.62 trillion) in 2030 from the existing 31 trillion yuan, chief executive of the city's bourse Nicolas Aguzin said.

Aguzin believed this will create more opportunities for Hong Kong as the savings of Chinese residents account for around 45 percent of its gross domestic product, and many are trying to find new investment chances in the low-interest-rate environment.

Foreign investment in China is still very small, he said, adding that foreign capital only accounts for 5 percent of the total A-share market capitalization.

But he believes more and more funds will flow into China in the future as the country gradually opens up to the world.

Aguzin added that Hong Kong is becoming a leading center of new stock fund-raising and risk and wealth management.

The Asian financial hub will continue to connect China to the world, he said, and the city is well placed for the development of fintech.

Separately, the Cross-boundary Wealth Management Connect Scheme recorded 7,600 individual investors totaling 131 million yuan in two weeks since its inception on October 19.

Among them, 5,022 retail investors in Hong Kong and Macao participated in the Northbound Scheme, involving 1,270 transactions amounting 65.5 million yuan. And 2,578 mainland investors took part in the Southbound Scheme, with 65.7 million yuan recorded in 482 transactions.

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China's capital market 'will reach 100tn yuan'