Skip to content
Nicolesmagicspatula

Nicolesmagicspatula

We know finance

Primary Menu
  • Business News
  • Business Development
  • Business Networking
  • Business Knowledge
  • Finance Companies
  • Finance Analyst
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Factbox-Major Finance Milestones as Hong Kong Marks 25 Years Since Handover | Investing News
  • Finance Companies

Factbox-Major Finance Milestones as Hong Kong Marks 25 Years Since Handover | Investing News

By Bernadette 3 years ago

[ad_1]

HONG KONG (Reuters) – Hong Kong returned to China in 1997 after 156 years of British colonial rule. Here are some major milestones for the city’s financial markets:

HONG KONG DOLLAR TRADING BAND

The Hong Kong dollar was pegged to the U.S. dollar on October 17, 1983, with a trading band of between 7.75 and 7.85 per US dollar imposed since 2005. The Hong Kong Monetary Authority (HKMA), the city’s de-facto central bank, regularly enters the market to buy or sell the currency to keep it within the band.

DUAL HONG KONG AND MAINLAND LISTINGS

Industrial and Commercial Bank of China became the first company to execute an IPO simultaneously in Shanghai and Hong Kong in 2006 when it issued A-shares and H-shares to raise US$21.9 billion, the largest deal in the world at the time.

STOCK, BOND AND WEALTH CONNECT

Shanghai-Hong Kong Stock Connect was created in 2014 to provide mutual access between the equity markets of Hong Kong and mainland China. Two years later, the programme was expanded to Hong Kong and Shenzhen Stock Connect, which allowed mainland investors access to smaller companies in Hong Kong and international investors access to new economy companies listed in Shenzhen. The connect programmes now cover about 2000 stocks, according to Hong Kong’s Securities and Futures Commission (SFC). In May, China’s securities regulator agreed to include exchange-traded funds (ETFs) in stock connect programmes with Hong Kong.

In 2017, Bond Connect was launched to replicate the equity schemes and allow foreign investors to invest via Hong Kong in China’s multi-trillion bond market. The Northbound Bond Connect has become a major channel for foreign investors seeking access to China’s bond market. In September last year, China said it would permit its investors to trade offshore debt with the opening of the “Southbound” leg of its Bond Connect channel.

Wealth Management Connect launched in September 2021, linking China’s southern province of Guangdong with Hong Kong and Macau, to allow cross-border funds management. The programme enables residents of Hong Kong and Macau to buy mainland investment products sold by banks in the Greater Bay Area, while allowing residents of nine Guangdong cities to buy those sold by banks in the two offshore centres.

Hong Kong Stock Exchange announced in 2018 https://www.reuters.com/article/uk-hkex-regulation-idUKKCN1G70VS it would allow companies with dual-class shares – or weighted voting rights – if they are considered to be “innovative”, in a move designed to facilitate listings from emerging business sectors. The decision was described by the law firm Skadden as the most significant change to Hong Kong’s listing rules in 20 years.

WAVE OF SECONDARY LISTINGS

The weighted voting rights changes in 2018 prompted a wave of secondary – or homecoming listings – which kicked off with Alibaba Group in November 2019. The Jack Ma-founded e-commerce giant raised $12.9 billion in the deal that was the largest share sale in Hong Kong at the time for nine years. Since then, 18 companies have raised $42.3 billion, according to Refintiv data. The pace of homecoming listings has remained strong as Chinese companies trading in New York prepare contingency plans as U.S authorities press ahead with delisting firms that don’t meet regulators’ auditing requirements.

HKEX launched its MSCI A-share index futures product in 2021, an attempt to meet demand from investors in Chinese stocks for hedging tools at a time of surging volatility.

SPECIAL PURPOSE ACQUISITION CORPORATIONS (SPACs)

Hong Kong Stock Exchange allowed Special Purpose Acquisition Corporations (SPACs), known also as blank cheque companies, to start trading from January 1, 2022, in line with most other major markets in the world.

However, tight restrictions on the type of investors which could buy into the SPACs and banning retail participation dented demand for the products along with the current bout of market volatility.

Only two SPACs have listed since the start of the year.

(Reporting by Scott Murdoch; Editing by Anne Marie Roantree and Gerry Doyle)

Copyright 2022 Thomson Reuters.

[ad_2]

Source link

Tags: "Succeeded His Business", 2 Of Cups Business, 525 Business 5 Bankruptcies, Accounting Business Letter To Client, Bracken Business Communications Clinic, Business Account No Deposit, Business Administration Fafsa, Business Balance Sheet Explained, Business Card, Business Card Printing La Plata, Business Card To Secret Website, Business Cards Media Bar, Business Central Png, Business Coaching Site Cloudfront, Business Contract Lawyer 47201, Business Marketing Pearson Quizlet, Business Milleage Leager 18, Business Mobile Broadand Plans, Business Plan For Supplement Company, Business Plan Loan Originayor, Disrupting Digital Business Harvard, Ffiec Business Continuity Templates, Gauge Ear Piercing Business, Good Openings For Business Letters, Holton Investment Business, Indiana Wesleyan University Business, Indianapolis Business Times, List Business In Search Engines, List My Business Yahoo, Lunch Susbcription Business Model, Morgan Hill Business Liocense Renewal, Nee Small Business Bill Signed, Negotiating Business Acquisitions Practical Law, Networking Trends Small Business, New Business In Shorewood Il, School Business Officer Being Unethical, Small Business Administration Mass, Small Business Comunity, Small Business Corporation South Africa, Small Business Depew Llc, Small Business Medical Offices Chicago, Small Business Office Lakewood Nj, Small Business Plans Verizon, Small Business Storage Array, Small Business Sucess Stories, South Florida Business Journal Twitter, Torrington Ct, United Business Tech Response Sla, United Domestic Business Food, Video Business Woman Bukkake, Ways To Improve Business Technologyreddit

Continue Reading

Previous Brand Archetypes and How They Can Help Your Business: The Definitive Guide
Next 20 Email Marketing Best Practices You Can Use in 2022
May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Apr    

Archives

BL

Recent Posts

  • Unlock New Opportunities Through Business Networking
  • Leveraging Business Networking for Career Growth
  • What Investors Think About New China Tariffs
  • How Finance Analysts Drive Better Financial Decisions
  • How to Find the Perfect Financial Advisor for You
Intellifluence Trusted Blogger

Tags

Amazon Fba Business At&T Business Login Atlanta Business Chronicle'S Boss Baby Back In Business business Business Administration Degree Business Attire Women Business Card Design Business Cards Templates Business Casual Dress Business Casual Outfits Business Checking Account Business Credit Card Business For Sale Near Me Business Intelligence Platform Business Lawyer Near Me Business Loan Calculator Business Name Ideas Business Professional Women Business Spectrum Login California Business Entity Search Capital One Spark Business Carl Weber'S The Family Business Charlotte Business Journal Custom Business Cards Delaware Business Search enterprise Florida Business Search Fl Sos Business Search Harvard Business Publishing Insurance For Small Business Kelley School Of Business Maryland Business Express Maryland Business Search Moo Business Cards National Business Furniture New York Business Search Ohio Business Gateway Onedrive For Business Online Business Ideas Paramore Misery Business Risky Business Cast Small Business Insurance Spectrum Business Customer Service Tom Cruise Risky Business

Partner Links

kakiqq
mariandumitru

links

Ride the Structo Wave
Ride the Ai Wave Up

BR

oatagent
GlobalTradeHub

bp

backlinkplacement.com

nicolesmagicspatula.com | Magazine 7 by AF themes.

WhatsApp us