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The Financial Secretary, Mr John C Tsang, arrived in Toronto today (July 11, Toronto time) to start his five-day visit to foster closer economic and trade ties between Hong Kong and Canada.
Mr Tsang's first stop was the Toronto Stock Exchange where he met with senior management of the Toronto Stock Exchange to discuss financial issues of mutual concern. Later, at a meeting with the local academics, Mr Tsang talked about the education links and the possibilities for further development between the two places.
The Toronto Stock Exchange is known for its high standards of transparency and fairness. Mr Tsang said he saw great potential for co-operation between the two stock exchanges in Toronto and Hong Kong.
"Since the establishment of the Hong Kong Stock Exchanges and Clearing Limited in 2000, the capitalisation of our stock market has increased more than four-fold. We are the sixth largest stock market in the world. In each of the past two years, Hong Kong has led the world in funds rasied through Initial Public Offerings (IPO). Last year, IPO funds raised in Hong Kong reached US$58 billion," he said.
Mr Tsang then visited the University of Toronto to attend a "Dialogue with Canadian Students" at Richard Charles Lee Canada-Hong Kong Library. He took the opportunity to share with the students his vision on the future development of Hong Kong. He also explained Hong Kong's role in China's Twelfth Five-Year Plan and spoke of the opportunities Hong Kong offers for young Canadians.
"According to World University Rankings by Quacquarelli Symonds in 2010, the University of Hong Kong, Chinese University of Hong Kong and Hong Kong University of Science and Technology are ranked among the world's top 50 universities. I encourage students to pursue their studies in Hong Kong," he added.
Mr Tsang has speaking engagements and meetings with local business community scheduled for tomorrow. He will also attend a reception for Chinese community leaders and to brief them on Hong Kong's latest developments before leaving for Ottawa and Montreal.
Ends/Tuesday, July 12, 2011
Issued at HKT 11:21
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