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As an international financial centre in the heart of Asia with strong global links, Hong Kong provided premium capital formation and global investment platform for enterprises worldwide, the Secretary for Financial Services and the Treasury, Professor K C Chan, said in Moscow today (June 4, Moscow time).
Addressing a conference on initial public offerings (IPO) in Hong Kong jointly organised by the Hong Kong Exchanges and Clearing Limited, Russian-Chinese Business Council and the All-Russia Organisation, Professor Chan said Hong Kong was Russia・s best partner for reaching out to the international market.
：Our unique role as China・s city and Asia・s world city has made us the most favourable location for overseas investors to expand into the mainland market and capitalise on the growth of the mainland economy. Our proven track record in conducting mega IPOs has won the confidence of issuers, investors and financial institutions worldwide,； Professor Chan said.
He said Hong Kong's success as an international financial centre was premised on its core values and fundamental strengths. These included rule of law, free economy with no foreign exchange control, low and simple tax regime, a clean and efficient government, a regulatory framework that was on a par with international standards and a critical mass of international investors.
Professor Chan said, ：With our strong mainland connections geographically, culturally and economically, Hong Kong is obviously the top choice for foreign investors to tap the tremendous business opportunities in mainland China.；
He told the audience that ever since the listing of the first mainland enterprise in Hong Kong in 1993, Hong Kong had assumed a new dimension in promoting mainland China・s economic development by raising funds for its enterprises.
：Today, Hong Kong has developed into a premier capital formation centre for mainland China. A total of 443 mainland enterprises are listed in Hong Kong. They have, in total, raised about US$243 billion from our stock market,； Professor Chan said.
Professor Chan said Hong Kong possessed strong credentials to provide quality services to Russia enterprises looking to list in an international market.
Earlier today, Professor Chan attended a roundtable breakfast where he met corporate leaders and briefed them on the latest developments in Hong Kong. He also called on the Russian Federal Financial Markets Service.
Tomorrow (June 5), Professor Chan will call on Deputy Chairman of the Central Bank of Russia Mr Viktor Melnikov. He will also visit the Moscow Interbank Currency Exchange.
Professor Chan will end his visit to Moscow on Friday (June 6) and leave for Hong Kong that afternoon.
Ends/Wednesday, June 4, 2008
Issued at HKT 19:13
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