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Paul Chan Instructs SFC, HKEX to Get Ready for Return of CN ADRs
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Amid reports that U.S. President Donald Trump plans to delist Chinese stocks from U.S. exchanges, Hong Kong Financial Secretary Paul Chan wrote in his blog that, he has instructed the Securities and Futures Commission (SFC) and HKEX (00388.HK) to get ready accordingly, in response to the latest global developments. Should Chinese companies listed overseas wish to stage a comeback, Hong Kong must be their top choice for listing. Chan added that Hong Kong is actively attracting high-quality issuers from around the world to list locally, having established a regulatory framework to facilitate dual or secondary listings for companies already listed abroad. HKEX will also beef up efforts to connect with and promote in ASEAN and Middle Eastern markets to draw more quality companies from those regions to list in Hong Kong. The HK dollar remains strong, with the HKD/USD exchange rate still at the strong side, indicating that capital continues to harbor in the local market, Chan noted. In wake of rapid changes in the external trade environment and massive financial market volatility, the government’s previously deployed market monitoring mechanisms continue to function effectively. Additionally, the Hong Kong government is closely monitoring the operations of various industries in Hong Kong, particularly SMEs. AAStocks Financial News |
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