When the number of new shares listed in Hong Kong has been reduced, China's stock supervision agencies have released five capital market cooperation measures for Hong Kong, including supporting leading mainland industry companies to go public in Hong Kong.The analysis believes that whether the Hong Kong's new stock issuance market can reverse the decline, it mainly depends on foreign capital's confidence in China.

The China Securities Supervision and Administration Commission announced five cooperation measures for Hong Kong on Friday (April 19), including supporting qualified mainland industry leading enterprises to go public in Hong Kong.Essays of the CSRC disclosed that in the past one year in the past one year of the rules of the registration management system of overseas listing, 72 companies have completed the first public sale (IPO) record for the first public sales (IPO) for the first time.

The CSRC also promised to relax the exchanges (ETF) qualification product scope under the "Shanghai -Shenzhen -Hong Kong Stock Connect" mechanism, and incorporate the real estate investment trust fund (REITs)Gangtong trading variety.Shanghai -Shenzhen -Hong Kong Stock Connect allows investors to conduct two -way transactions between Hong Kong and Shanghai -Shenzhen Stock Exchange.

After the

measures were released, the Shanghai -Shenzhen -Hong Kong -Hong Kong -three exchanges said that they had reached a consensus on expanding the scope of the ETF of the Shanghai -Shenzhen -Hong Kong Stock Connect, including reducing the requirements of ETF incoming scale, and the decline in the proportion of the weight of the ETF index.It is expected that the relevant measures will land in three months.

In addition, the CSRC also supports the inclusion of the RMB stock trading counter into the Hong Kong Stock Connect, and optimizes the mutual recognition arrangements to better meet the diversified investment needs of investors in the two places.

The Securities Regulatory Commission said that the above measures aim to further expand and optimize the Shanghai-Shenzhen-Hong Kong-Hong Kong-channel mechanism, Helps Hong Kong to consolidate and enhance the status of the international financial center , and jointly promote the coordinated development of the capital markets between the two places.

The statistics of Wind Database (Wind) show that under the impact of global economic downturn and geopolitical risks, the Hong Kong IPO market has shrunk by 57 % year -on -year, a decrease of 10 years.Only 70 companies were listed throughout the year, and 19 were reduced compared with 89 in the previous year.There are only 12 new shares listed this year, with a total funding of 4.73 billion Hong Kong dollars (S $ 820 million), and both fell to a new low in nearly 10 years.

Chen Maobo, the director of the Hong Kong Financial Secretary, posted on Sunday (April 21) on the official website of the Finance Department that when he visited Hangzhou and Suzhou last week, he noticed that many local companies have applied or consider listing in Hong Kong.The institutional advantages of the Hong Kong market and seamlessly connect with international standards, and believe that it will accelerate its development in the Mainland and international markets through overseas financing. "

Chen Maobo believes that supporting the leading companies in the mainland industry to go to Hong Kong to raise financing will benefit the listing market of new shares in Hong Kong; more companies with long -term development and reward potential will also attract more international funds to Hong Kong. fully reflects the central government's support for Hong Kong .

Shao Zhiyao, chairman of the Hong Kong Finance Professional Association, pointed out in an interview with Lianhe Morning Post that compared with ETF, the IPO has a greater effect on the Hong Kong market.Last year, hundreds of companies were listed through the Hong Kong Stock Exchange, but in the end, only 70 were successfully listed, and the rest were bruised because of insufficient fundraising.

"The key now is not that the central government is not allowed to let mainland stocks go to Hong Kong to go public, but whether foreign funds are interested in investing in these stocks. The current foreign investment principle is Anywhere But China.Very unfriendly "

Shao Zhiyao added that the current Hong Kong stocks are insufficient and the capital pool is limited. Unless the pricing is attractive enough, it is difficult to flow to new shares."Of course, if the Securities Regulatory Commission is promoted, high -quality stocks with low prices are listed in Hong Kong, and the Hong Kong stock market IPO market is expected to reverse the situation."