Category: Money tips Release Date: 2006-05-26
Mainland enterprises have come to Hong Kong, making Hong Kong financing in excess of the Tokyo stock market listed fourth in the world and become a truly 'motherboard market'. April 13 of this year, the central bank issued the policy, release qualified domestic banks, fund companies, insurance agencies to overseas financial investment, Hong Kong capital market is certainly a first stop of these funds. This is for the Hong Kong stock market to become realities in China's 'motherboard' Adds a piece on the heavy weight, but also to HKEx have more room for this.
Since taking office in 2003, Paul Chow is committed to the introduction within the enterprise, and now QDII floodgates, North water transfer to the south is becoming a reality, the face of this historical opportunity, whether through the QDII Chow's ability to expand market capacity, to change the current European and U.S. capital dominated, market-dominant pattern, and then the successful completion of the local stock market to make a 'shake-up'?
If you say who is the most HKEx fate of the people, then the Chow is not. Prior to the merger on the HKEx, Paul Chow, a 6-year term in the Stock Exchange Chief Executive Officer. However, after a lapse of six years later, he again became the Chief Executive of HKEx.
Chow is also the fate and the mainland people who are most in his term of office, are all closely linked with the mainland. H-share listed from 1993 to the present QDII floodgates, this fate seems to have brought him good luck.
To play a multitude of things in the first 'mainland card' Many people say that Paul Chow 'feet beginning and a good', wherever wind in its sails, relies on luck, really true? Zhou took office early in 2003, it was 'SARS' epidemic, when the downturn in market conditions. 1 Statistics show that HKEx profit in 2002 compared with a year fall into two 2003 first-quarter earnings fell 25 percent over the previous year, HKEx hit bottom. At the same time, be exposed one after another incident of mainland private enterprises - the Far East creatures, China rare earth, Euro-Asia Agricultural, stirring voices of doubt one of the HKEx. There is the Chow Kwong Ki-chi outgoing predecessor, the penny stock furore, which is also the right of the listing of HKEx shaken.
It is in a cross-trapped the sound of the HKEx, Zhou took office. In reviewing the past work, Zhou found that HKEx had said more than 100 projects in the same time. Chou grasp the nettle and decided to concentrate on the implementation of key projects. Despite the prevailing market for mainland enterprises listed in Hong Kong quite a lot of criticism of the sound, but the character Chow demonstrated that he is not about one side, vertical row of rather controversial area, adhere to attract more high-quality Mainland enterprises listed in Hong Kong, as an advance the project a top priority. And this was intended to coincide with the HKEx chairman Charles Lee hit it off instantly. Paul Chow and Lee Yeh-kwong, which met more than 30 pairs of gold contained in combination of HKEx to introduce aspects of the mainland has always been on the same trench.
'Three-step Chess' intermediation in the Mainland In 2000, led by the SAR Government, Hong Kong Stock Exchange, the Futures Exchange and the three clearing houses for the Hong Kong Stock Exchange. Soft CROSBY Chief Executive Officer Lee Lamp Field, said Paul Chow took office, the light of the situation has changed. His first move is to go to Taiwan, the mainland to promote, to the Middle East to promote, so that more investors know that the HKEx, so that more quality enterprises listed in Hong Kong know the benefits.
In 2003, coincided with the signing of CEPA between Hong Kong and discuss the first phase of the agreement. Zhou aware of the economic integration of Hong Kong Hong Kong capital markets will provide more space for development. Thus, in June 29 before the agreement was signed, Zhou and his team began preparations in full swing to set up offices in Beijing, and led at the end of this trip, and this move is matched, the HKEx has successively to the mainland The two financial powerhouse: the Pearl River Delta and Yangtze River Delta, Guangzhou, Shanghai Special Representative sent. Paul Chow reporters after he took office to visit Hong Kong-listed mainland enterprises and found that the vast majority of companies are from these three areas.
Shortly afterward, the HKEx in March 2004 for the first listed company to amend the rules, as long as the threshold for a certain amount of the financing, we can not limit the third consecutive year performance period, this second chess move to the mainland large-scale state-owned enterprises listed in Hong Kong provides a convenient, Life Insurance, China Life, Ping An Insurance, China Construction Bank and other large aircraft have landed in Hong Kong. Southwest Securities analyst Zhou G, said Zhou which is very clever, these carrier-class companies related to people's livelihood, is a resource monopoly companies, with state guarantee, performance stability, ease of supervision, and a huge amount of financing. Both bypassed Hong Kong on the mainland to Hong Kong to question the quality of listed private enterprises, but also enable the amount of financing have multiplied, according to its statistics, Chow took office a few years time, be exposed the problem mainland enterprises was decreasing trend .
The third measure is for active trading chess to introduce the corresponding index products with state-owned enterprises. The ongoing state-owned enterprises dyed blue, so that state-owned shares into the HSI constituent stocks. Li light field that this is only the beginning, the Hang Seng Index constituent stocks will be more appear more state-owned enterprises in the Mainland figure, which actually marks to local companies based in Hong Kong stock market, is becoming a main board market across the region, Its protagonist is being gradually replaced by mainland enterprises.
Hong Kong stocks have led the trend in prices Mainly local companies in Hong Kong HKEx has become China's leading capital market. HKEx 1 Statistics show that since 1993 only the first H share listing in Hong Kong by the end of February this year, Mainland companies raised a total of 142 billion U.S. dollars. Listed companies in Hong Kong in 1100, three come from the mainland. Jiucheng the first quarter of this year, the financing came from the Mainland enterprises IPO. In 2005 the largest amount of the financing of our IPO of 10 Mainland enterprises have eight.
According to statistics, is now the largest Hong Kong equity market value of 10 stocks were from the Mainland. Chow recently publicly said it expects the figure five years later expanded to the former 20 are Mainland enterprises.
Endless arrival of Mainland enterprises to expand the capacity of the local market, according to incomplete statistics, Paul Chow assumed office, Hong Kong stocks to the total market value of less than 6 trillion yuan, while the already early May across the 10 trillion yuan mark. Hong Kong shares are also traded state-owned enterprises due to the arrival of mainland quality multiplied amplification, according to HKEx statistics, the history of the 10 highest single-day turnover, actually almost all appear in this year.
A short period of three years, HKEx has undergone such major changes can not be said Chow is the HKEx Fuxing, but he is also investing in HKEx investors Fuxing. Chow first took office at a time when the market downturn, the HKEx's shares were only 8 Hong Kong dollars, but once this year across the 60 yuan mark.
