Bourses should 'cooperate'
(China Daily)Updated: 2007-01-19 09:07
"We are convinced there are ample listing resources and room for us all," he said. And Hong Kong's attraction as China's international market still helps it stand out.
Hong Kong boasts every element that an international exchange requires good market scale, rich liquidity and global exposure.
At the same time, it is attractive to the mainland for its geographical proximity and relatively low language and cultural barriers that other overseas markets do not have.
That's why the number of mainland firms listing in Hong Kong has risen steadily over the years and a lot more have expressed interest in listing in Hong Kong, he said.
More than 300 mainland firms are currently listed in Hong Kong, accounting for nearly 40 percent of the market capitalization. Last year, the ICBC and Bank of China's $30 billion initial public offerings (IPOs) helped the city to surpass New York as the world's second-largest IPO market, only after London, after it saw record $43.8 billion IPOs.
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