Hong Kong to step up cooperation with ASEAN, Middle East markets

HONG KONG, Feb. 26 (Xinhua) -- The Hong Kong Special Administrative Region (HKSAR) will facilitate the financing of overseas enterprises and specific products as part of a broader effort to boost the securities and derivatives market, said Paul Chan, financial secretary of the HKSAR government, on Wednesday.

Delivering the 2025-26 budget at the HKSAR's Legislative Council, Chan said that the Association of Southeast Asian Nations (ASEAN) is an important economic region that continues to grow, and that a number of enterprises from ASEAN are seeking to apply for listing in Hong Kong, covering businesses in areas including biotechnology, integrated logistics, and mining.

The Hong Kong Exchanges and Clearing Limited (HKEX) will step up its promotion in ASEAN and the Middle East, and actively explore areas of cooperation with countries in the region, including the listing of exchange-traded funds, to enrich the investment product choices in mutual markets and promote two-way capital flows, he said.

HKEX will also strive to increase the number of overseas recognized exchanges to facilitate more overseas companies' secondary listing in Hong Kong, he added.

Meanwhile, Hong Kong will continue to attract global capital and develop a vibrant ecosystem for family offices. Invest Hong Kong (InvestHK) of the HKSAR government has assisted over 160 family offices in setting up operations or expanding their businesses in Hong Kong, Chan noted.

The city will be hosting the third edition of the Wealth for Good in Hong Kong Summit shortly under the theme of "Hong Kong of the world, for the world," showcasing Hong Kong's strengths as a global hub for family offices, he said.