Hong Kong’s biggest party asks mainland China to encourage companies to seek city stock exchange listings, says working group should be set up

DAB says more listings from mainland would boost city’s standing as major financial centre and increase global profile of Chinese companies

Appeal among 30 proposals by party to go before the National People’s Congress, China’s top legislature, next month

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More mainland Chinese companies listed on the Hong Kong stock exchange would benefit both places, DAB says. Photo: Sun Yeung

Published: 10:27pm, 19 Feb 2024Updated: 10:34pm, 19 Feb 2024

Hong Kong’s biggest political party has appealed to central authorities to encourage more mainland Chinese companies to choose the city for an outside stock exchange listing to help cement its status as an international financial centre and contribute to the country amid geopolitical tensions.

The Democratic Alliance for the Betterment and Progress of Hong Kong (DAB) on Monday said Hong Kong and Beijing’s securities regulatory bodies should form a working group to streamline the listing process.

The call was among the 30 proposals by the party to go before the National People’s Congress (NPC), China’s top legislature, which will hold its annual meeting on March 5.

Kennedy Wong Ying-ho, a DAB NPC deputy and lawyer who floated the proposal, highlighted Beijing’s pledge at the sixth national financial work conference last October to support Hong Kong’s role as a major international financial hub.

Kennedy Wong, an NPC deputy for the DAB and lawyer, says more mainland Chinese listings on Hong Kong stock exchange would benefit both places and that a joint working group should be set up. Photo: Nora Tam

“I think it is the right timing to put forward the matter,” he said.