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Cathay Securities Corporation, a subsidiary of Cathay Financial Holdings from Taiwan, announced today (December 9) that it has opened Cathay Securities (Hong Kong) Limited in Hong Kong, leveraging the city's status as an international financial centre and its strategic location to gain access to the Southeast Asian and the Mainland.
According to Cathay Securities Corporation, its trading volume in Hong Kong stock market has rapidly increased in the past three years, up from $1.21 billion in 2013 to $4.33 billion in 2014. As at October 2015, the trading volume has reached $6.4 billion. Cathay Securities (Hong Kong) Limited stated that a presence in the city will enhance the company's competitiveness in Asia.
Cathay Securities (Hong Kong) Limited stated that Hong Kong is the world's premier gateway to the financial market in Mainland China. The launch of Shanghai-Hong Kong Stock Connect at the end of 2014 further strengthens Hong Kong's position as a major financial centre for the Mainland. With a base in Hong Kong, the company can make use of this timely opportunity.
Cathay Securities (Hong Kong) Limited added that Hong Kong is situated in the heart of Asia and close to the Mainland. This advantage in location enables the Group to expand its business in Southeast Asia and the Mainland via Hong Kong. The company will start by offering securities trading and investment advisory services to the Group's clients. The plan is to use Hong Kong as the base to extend its services to the Mainland and Southeast Asia.
The Director-General of Investment Promotion, Dr Simon Galpin, said, "We are happy to see that Cathay Securities Corporation, subsidiary of one of the biggest financial groups in Taiwan, chooses Hong Kong as the base to expand its Southeast Asia and Mainland business. There is an increasing demand for securities services in Hong Kong and Asia, and the opening of Cathay Securities (Hong Kong) Limited will strengthen Hong Kong's role as an international financial hub in the region."
About Cathay Securities (Hong Kong) Limited
Cathay Securities (Hong Kong) Limited is licensed for Type 1 related activities (dealing in securities) and Type 4 related activities (advising on securities) issued by the Securities and Futures Commission. It mainly provides customers brokerage services and trade commodities products including Hong Kong stock, ETF, warrants, CBBCs and Taiwan stock. Apart from securities and bonds trading services, the company also offers securities financing services, debt financing services, IPO, wealth-management business and others securities related businesses and futures proprietary trading business. For more information, please visit www.cathaysec.com.hk/index.aspx.¡@
About Invest Hong Kong
Invest Hong Kong (InvestHK) is the department of the Hong Kong Special Administrative Region Government established in July 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As at June 2015, InvestHK had assisted over 3,700 companies which created more than 40,200 new jobs in the first year of operation or expansion and over $99 billion of investment. For more information, please visit www.investhk.gov.hk.
For event photos, please visit: www.flickr.com/photos/investhk/albums/72157662200997055.
Ends/Wednesday, December 9, 2015
Issued at HKT 19:06
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