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8 Belt and Road firms apply for IPOs in Hong Kong

The Trade Development Council said interest from Central Asia picked up after a June visit by Hong Kong Chief Executive John Lee Ka-chiu, and it raised its export forecast.

Reported · Written up by our desk · Trade & Tariffs

Hong Kong’s trade promotion chief said eight additional companies from countries involved in Beijing’s Belt and Road Initiative have applied to list in the city.

Frederick Ma Si-hang, chairman of the Trade Development Council, said on Monday that Hong Kong’s economy would benefit if China-US ties improve, and he said the council raised its export forecast.

Ma added that demand from Central Asia has increased after a high level delegation led by Chief Executive John Lee Ka-chiu visited the region in June.

Speaking on the sidelines of the Global Youth Powerhouse Summit, Ma said a Central Asian sovereign fund with controlling stakes in many local companies told him it was interested in using Hong Kong and its capital markets to raise funds, though he did not disclose the firms’ names or business details, according to SCMP Economy.

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