Solidifying HK's financial hub status, CSRC's move shows Beijing's support for HK: Paul Chan

On Sunday (April 21), Hong Kong Financial Secretary Paul Chan said that new measures announced by the China Securities Regulatory Commission (CSRC) to cooperate with Hong Kong's capital market demonstrate the central government's support for the SAR.

On his blog, Chan said the commission will support leading mainland companies in listing in Hong Kong by improving communication and coordination among government departments.

The official said he learned during a trip to Hangzhou and Suzhou last week that many companies have applied to list in Hong Kong or are considering doing so.

He said the companies like Hong Kong for its institutional advantages, including intellectual property protection and internationalization, and the synergy with other Greater Bay Area cities.

"They hope to use Hong Kong as their preferred springboard and platform to enter the international market, including establishing treasury centers and even international headquarters in Hong Kong," Chan said.

The finance chief said having more companies with great potential listed on Hong Kong's bourse will attract more international capital and solidify the SAR's status as an international financial hub.

Chan said that some technology firms from Hangzhou are also setting up research centers in the SAR as the two cities are about to establish a platform for technological collaboration.