Eight More Belt and Road Companies Apply for Hong Kong Listings Amid Central Asian Interest Surge
The Trade Development Council's trade promotion chief reported that eight additional companies from nations participating in Beijing's Belt and Road Initiative have submitted applications to list in Hong Kong. This follows a reported surge in interest from Central Asian markets after a high-level delegation led by Chief Executive John Lee Ka-chiu visited the area in June.
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According to the South China Morning Post, Frederick Ma Si-hang, the trade promotion chief, stated that eight more enterprises originating from countries associated with Beijing’s Belt and Road Initiative have put forward applications to be listed in Hong Kong.
Ma, who serves as the chairman of the Trade Development Council, also commented on Monday that the city's economy is expected to gain from the improvement of relations between China and the United States. The council has also increased its export projections.
Speaking during the Global Youth Powerhouse Summit, Ma indicated that interest in Hong Kong's capital markets from Central Asia has increased following a visit to the region by a high-level delegation headed by Chief Executive John Lee Ka-chiu in June.
Ma mentioned that during his visit to Kazakhstan, a sovereign fund, which holds controlling interests in numerous local businesses, expressed interest in utilizing Hong Kong as an international financial center and its capital market for the purpose of raising capital, though he did not reveal the specific names or the nature of these entities.
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