Financial Services Minister Christopher Hui on Saturday said a recent move by the China Securities Regulatory Commission (CSRC) to provide more mainland business for Hong Kong is an opportunity for the SAR's financial sector. The measures, announced earlier this month, include opening up more Hong Kong-based exchange-traded funds for mainland investors and encouraging mainland companies to list here. Speaking on a radio programme, Hui said the stock exchange is currently processing around 100 listing applications from outside Hong Kong. "Through the efforts of our stock exchange and other parties, we have been promoting the advantages of our Hong Kong listing platform to different potential issuers," he said. "I believe, with the support of our country's policy, our stock exchange and the Securities and Futures Commission will continue to work hard and encourage more companies to consider using Hong Kong as a listing platform for their financing." Asked about a rise in bankruptcy petitions, Hui said he believed this was due to a number of reasons, including high interest rates. "This is due to several factors. Of course, some past petitions might come back after the pandemic. At the same time, the economic situation could play a part," he said. The treasury chief added that officials would continue to monitor the changes in the figures before deciding whether action was needed.
