Hong Kong exchange will promote yuan products, rebuild IPO status, new HKEX chairman vows
- HKEX will seek to boost international use of the yuan and enhance Hong Kong’s connector role between China and the world, Carlson Tong says
Hong Kong Exchanges and Clearing (HKEX), which operates Asia’s third-largest stock market, will introduce more yuan products and more measures to boost the exchange’s international status, said its chairman Carlson Tong Ka-shing as he met the media for the first time since taking the top job in April.
“We will introduce more yuan products for international investors to invest in a bid to promote the international usage of the currency, which is important to enhance Hong Kong’s role as a connector between China and the world,” Tong said as he unveiled his vision in a media briefing on Friday after a ceremony marking HKEX’s 24th anniversary as a listed company.
“HKEX will also continue to promote the city’s international status. We will introduce more measures to boost market turnover and more new listings, as well as promoting the connect schemes to allow more capital flow between China and Hong Kong.”
He was the chairman of the Securities and Futures Commission from 2012 to 2018. Before that, he was the chairman of KPMG China from 2007 to 2011 and also headed HKEX’s listing committee from 2006 to 2008.