The Hong Kong Exchanges and Clearing's three-year plan to form alliances with overseas bourses and attract more international firms to list in the city is receiving positive reaction from brokers and listed companies, reports the South China Morning Post.
The newspaper says that the objectives of the plan include forming alliances with mainland and overseas exchanges in the next three years that would benefit its mainland focus. HKex also plans to introduce yuan investment products, such as index funds or derivatives for the currency, and other measures to attract more international firms to list in the city.
"I think it is a good idea to form alliances with the mainland bourse. Hong Kong is becoming an important component of the Chinese financial services sector and stronger ties can only add more value," Rex Auyeung Pak-kuen, chief executive of Principal International (Asia), told the Post.