The office was formally opened by Chris Gibson-Smith, the Exchange’s Chairman, Henry Tang, Financial Secretary of the Hong Kong SAR, and Alderman Robert Finch, Lord Mayor of the City of London. The Lord Mayor of the City of London is currently leading a trade mission to China comprised of key figures from the UK financial services industry.
The new office is the Exchange’s first in Asia-Pacific and will be headed by Jane Zhu, the Exchange’s Head of Asia-Pacific.
Commenting on the office opening, Chris Gibson-Smith said:
“The opening of our office today underlines our ongoing commitment to both China and the wider Asia-Pacific region. China is one of the largest and fastest growing economies in the world, at the heart of the world’s fastest growing region. As the world’s most international financial centre, we believe London is the natural home for dynamic, growing Chinese and Asian companies looking to attract international capital.”
Henry Tang added:
“We are delighted to see the London Stock Exchange set up its Asia-Pacific regional office in Hong Kong, and this will no doubt further strengthen Hong Kong’s position as the international financial centre in Asia. With our sophisticated banking system, rule of law, a large pool of first-rate professionals and strategic geographical location, Hong Kong is the most ideal place for international players in the financial services sector to access the region, including China - one of the largest and fastest growing economies in the world.”
With its Hong Kong office, the Exchange will be targeting large privatisation deals and the flotations of other medium to large enterprises in China. The Exchange offers a choice of international markets for companies. These comprise the Main Market and AIM, the Exchange’s international market for smaller growing companies.
The Exchange will also continue to promote dual listings in London and Hong Kong through a single prospectus.
Coinciding with the office opening, the first Exchange Traded Fund in Europe to offer exposure to the rapidly growing Chinese economy began trading on the London Stock Exchange today. The Barclays Global Investors iShares FTSE/Xinhua China 25 provides a comprehensive and transparent means for European investors to track the emerging Chinese market.
