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Hong Kong Stock Market Eyes Beijing Silicon Valley
The Stock Exchange of Hong Kong ( SEHK) might become an important financing channel for high-tech operations in Beijing's Zhongguancun Area, also dubbed as China's Silicon Valley, said a Hong Kong Security veteran recently.
Charles Lee Yem-kwong, chairman of the Hong Kong Exchanges and Clearing Limited (HKEx) made the remark during his recent visit to Zhongguancun with a team of Hong Kong securities agents, accountants and lawyers.
According to Lee, some 60 businesses have been listed on a special start-up trading board launched by SEHK one and an half years ago.
These start-ups obtained an investment worth 18.1 billion Hong Kong dollars through the listing and their market value totaled at 67.2 billion Hong Kong dollars.
"The SEHK will help high-tech startups in the Zhongguancun Area to adapt to international standards and provide them with financing opportunities in the Exchange," said Lee.
Ma Lin, an official from the Zhongguancun Administrative Committee, said that there are thousands of high-tech fledglings in the Area, and 200 of them have met the listing standards now.
The SEHK was formed in 1980 by combining four separate exchanges and commenced trading in April 1986. It is ranked 11 in the world and second in Asia.
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