HKEX's role as global superconnector to grow, says chairman

Hong Kong Exchanges and Clearing's (0388) role as a superconnector linking China, Asia and the world will become more vital than ever in channeling new sources of capital, supporting innovative companies, and realizing the potential of the green transition, chairman Carlson Tong Ka-shing said in a blog post marking the bourse's 25th anniversary as a listed company.

“Over the decades, the city's markets have grown increasingly vibrant and liquid, attracting some of the world’s most exciting new economy and biotech companies,” Tong said. 

Since 2000, the number of companies listed in Hong Kong has more than tripled from 790 to over 2,600 and Chinese companies now represent 81 percent of the total market capitalization on the city's stock exchange, according to the post.

Tong noted that while mainland companies will continue to be a key source of its initial public offering pipeline, HKEX is seeing increasing interest from companies in a number of Asian countries, such as Singapore, Thailand and Indonesia, applying to list on the markets.

"Already, the bourse has added 20 overseas markets to its list of recognized stock exchanges, including in Asia and the Middle East. This means that companies that have a primary listing on those markets can apply for a secondary listing in Hong Kong."

Tong said the flourishing connectivity helps position Hong Kong as one of the world's largest equity fundraising centers for new economy and biotech companies, a global hub for offshore yuan business and Asia's premier international asset management hub.

"Looking ahead, we'll use our fundraising platform and product ecosystem to connect capital with green innovators and opportunities and leverage our regulatory role to provide ESG standards and guidance – helping all market participants pursue sustainability together," Tong added.

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