The Hong Kong Finance Chief, Paul Chan, expressed confidence in the strong support from the central authority for mainland enterprises looking to connect with Hong Kong’s equity market. He mentioned a surge in IPOs coming to Hong Kong in the second half of the year, especially from the third quarter.
Despite a decline in funds raised by IPOs in the first half of 2024, Chan remains optimistic due to dialogue with mainland company executives. He highlighted the city’s tailor-made rules for innovative sectors, making it an attractive platform for deep tech companies.
Moreover, Chan mentioned Hong Kong’s efforts to open up new capital sources, including attracting Middle East companies. Despite economic challenges and geopolitical tensions, Hong Kong is focusing on developing new industries like AI, fintech, and health technologies.
Chan also mentioned the government’s investment vehicle, HKIC, and its fund to spur innovation in the technology sector. He emphasized the importance of bringing tangible benefits to Hong Kong through strategic investments.
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