HK offers businesses growth and capital: FS

Financial Secretary Paul Chan said Hong Kong is well-placed to provide businesses with both growth opportunities and long-term capital. The finance chief made his remarks on Wednesday during a conversation session with investors on the second day of the Global Financial Leaders' Investment Summit in Central. Chan noted that a company needs different forms of capital at each stage of development to turn its potential into sustained growth. This, he said, is exactly where Hong Kong comes into play. “Under the 'One Country, Two Systems' framework, Hong Kong is closely connected to the Chinese mainland, while a common law legal system, free flow of capital and international networks provide a trusted and familiar environment for global investors to take part in China's enormous growth,” Chan said. “Here, we already bring together venture capital, private equity, family offices and asset managers, with deep equity and bond markets. Our task is to connect them more closely across the corporate life cycle.” He said follow-on fundraising on the Hong Kong Stock Exchange reached HK$570 billion in the first nine months of the year, showing that the city’s market continues to support companies well beyond their initial listings. Chan also said the aim is to expand...