Hong Kong capital market will help unlock China’s innovation ambitions, HKEX boss says
- Hong Kong’s market will continue to evolve to support emerging enterprises’ capital needs, Bonnie Chan says at Lujiazui Forum
Beijing’s push for the high-quality development of China’s economy will require technology and innovative enterprises, which will rely on the support of regulators to grow and attract investment, according to the CEO of Hong Kong’s stock exchange operator.
China is a hub of innovative companies, and start-up technology needs access to capital, which is where Hong Kong’s fundraising capability comes into play, said Bonnie Chan Yi-ting, the CEO of bourse operator Hong Kong Exchanges and Clearing (HKEX).
“Hong Kong’s capital markets will continue to implement the listing system methods that support these emerging enterprises to access fundraising,” she said on Wednesday at the Lujiazui Forum in Shanghai.
Meanwhile, technology such as artificial intelligence (AI) represents an opportunity for China’s finance industry to gain a competitive edge over its global peers, according to Seth Bernstein, president and CEO of Alliance Bernstein Group.
“The Chinese market could essentially leapfrog those capital markets in the United States, North America and Europe, which are burdened with legacy infrastructures and regulatory frameworks,” he said.
Technology and data science are able to drive more informed asset allocation, as well as rational allocation of resources across the broader economy, he said.