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SFC chief: Hong Kong's global financial status is here to stay

By Eleanor Huang | chinadaily.com.cn | Updated: 2020-08-11 16:24
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According to a June report by accountancy firm Ernst & Young, initial public offerings in Hong Kong saw a 21 percent increase in total capital raised in the first six months of this year, with JD and NetEase accounting for 62 percent of the amount.

In 2019 Hong Kong took the crown as the world's top IPO destination for the second consecutive year with HK$313 billion (US$40.4 billion) raised, the highest since 2010. The city held the title six times over the past decade.

Lui said Hong Kong has always served as a bridge between the mainland and the world. "With more companies coming to our stock exchange for a listing, I think our future prospects will be very good indeed."

He's optimistic that with the central government's unwavering backing, the local economy will continue to thrive post-COVID-19.

"Over the years, a host of measures have been rolled out to support Hong Kong," Lui pointed out. And, in view of the coronavirus pandemic and the economic downturn, he is certain the central government will be mulling ways and means to help Hong Kong people through further supportive policies, as has always been the case.

To help contain the pandemic, the central government has dispatched two medical teams to the SAR — one specializing in boosting virus-testing capacity and the other in helping to design, build and manage temporary treatment facilities.

Lui said the mainland experts' assistance is of paramount importance to Hong Kong as the outbreak has battered the local economy, and seriously affected the livelihood of residents.

Therefore, it is critical that Hong Kong brings the outbreak under control as soon as possible to revive the economy and get people's lives back to normal, he said.

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