Hong Kong’s finance chief seeks to attract Italian company listings on HKEX Hong Kong’s finance chief courted Italian companies on Thursday to go public on the city’s stock exchange, which would allow them to tap into mainland Chinese liquidity and solidify their presence in Asia. Addressing the Trade Development Council’s “Think Business, Think Hong Kong” symposium in Milan, Financial Secretary Paul Chan Mo-po highlighted the deepening ties between Hong Kong and Italy, noting their shared passion for creativity and enterprise and “flourishing” bilateral trade worth €7.2 billion (US$8.4 billion) in 2024. Over 200 Italian companies maintain a regional presence in Hong Kong, from globally recognised brands and manufacturing leaders to prominent firms in sectors like banking, insurance, logistics and food production. “Italian companies like Prada and Ferretti are already listed on the Hong Kong stock exchange, and I encourage more Italian companies to pursue dual listings on both Borsa Italiana and the Hong Kong stock exchange,” Chan said. Chan was heading an 80-strong delegation spanning finance, innovation, technology, logistics and creative industries, but shortened his trip and was scheduled to arrive back in Hong Kong on Friday morning in response to the deadly fire in Tai Po’s Wang Fuk Court. Chan told the audience that the Hong Kong stock market was among the best-performing globally this year, noting that its market capitalisation stood at €5.3 trillion and that the Hang Seng Index had already recorded a gain of more than 25 per cent to date. “Through our Southbound Connect, Italian companies can tap into mainland liquidity, gaining a level of access no other international financial centre can provide,” he noted, referring to the scheme that allows qualified mainland Chinese investors to trade eligible stocks listed on the Hong Kong stock exchange. Beyond equity, Chan also invited Italian enterprises and financial institutions to issue renminbi bonds in the city, emphasising the diverse currency options in Hong Kong’s “vibrant” bond market, while leveraging the city’s yuan clearing and settlement system. “That can only enable more efficient trade between Italy and China.” The finance chief also underscored the city’s megaproject, the Northern Metropolis, as a prime destination for Italian investment in innovation and technology (I&T), inviting those in life sciences, precision engineering, advanced manufacturing and luxury tech to establish research and development (R&D) centres and operations. The metropolis, covering one-third of Hong Kong and bordering Shenzhen, is poised to be the future I&T heart, featuring the San Tin Technopole – a hub similar to the Milan innovation district. “Within that zone, mainland capital, talent, goods, data and even biosamples will move freely to Hong Kong, giving companies access to both international and mainland data, a significant advantage for artificial intelligence, bio and pharmaceutical companies looking to tap the vast Chinese market,” Chan said. Frederick Ma Si-hang, chairman of the council, highlighted Hong Kong’s role as a “superconnector” between East and West, citing the presence of two global pharmaceutical giants GSK and AstraZeneca leveraging the city’s unique pathway to access the Greater Bay Area market. “We believe this linkage is a powerful draw for international life sciences and tech firms looking to tap into the enormous mainland market,” Ma said. https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3334429/hk-finance-chief-seeks-attract-italian-company-listings-hong-kong-stock-exchange (ICE HONG KONG)

Fonte notizia: South China Morning Post