SSE said to be gearing up for new emerging industries board

Shanghai Stock Exchange could launch by the end of this year a new strategic emerging industries board that will seek to attract listings of firms involved in sectors getting a policy push from the central government.
The new board will facilitate IPOs of firms in industries that are supported by government policies, including the technology, media and telecommunications (TMT) sectors, according to Wilson Chow, China and Hong Kong assurance leader for TMT at PricewaterhouseCoopers Shenzhen.
Among other initiatives, the board will aim to lure overseas-listed Chinese TMT firms to return to the country for domestic share floats, the Hong Kong Economic Journal cited Chow as saying.
Technology and bio-sciences firms, which usually incur huge expense on research and development, will be provided assistance in fund-raising activities, with the new board offering a favorable regulatory environment and easier rules.
Benson Wong, a PwC audit partner, said the new board could benefit Hong Kong if the local stock market operator, Hong Kong Exchanges and Clearing Ltd. (00388.HK), seeks dual-listing deals of technology companies by relaxing some of its own listing rules.
In other comments, Wong suggested that companies may be better off by listing in their home countries.
He noted that Alibaba Group, for instance, has seen its share price fall by a third since early steep gains following its listing on the New York Stock Exchange last year.
Despite potential high valuations that US listings may bring, it is actually the people in the home country that should be banked upon as they would have better knowledge of the business, he said.
Hong Kong, given its proximity and ties to China, is also an attractive option for Chinese tech firms, Wong added.
-- Contact us at [email protected]
VW/JP/RC
-
Epidemic and 40-year-high inflation stalk HK migrants in UK Mark O'Neill
The website of the Trinity Church in Sutton, southwest London, is written in English and traditional Chinese – 歡迎香港人, Welcome Hong Kong people. “The middle of a pandemic is not an easy time to arrive
-
The privilege of shorter quarantine Ben Kwok
The nightmare of staying in a hotel for three full weeks might hopefully be over. Yesterday the National Health Commission announced to shorten the hotel quarantine period for people arriving in the
-
3D maps enhance disaster prevention and rescue Dr. Winnie Tang
Abnormal and even extreme weather has become more frequent. The Observatory forecasts that tropical cyclone incidence and total rainfall this year will be "normal to high". To be well-prepared, the
-
Ignoble ease Neville Sarony
There is no shortage of commentators, both lawyers and lay people, who feel entitled to criticize Hong Kong’s legal community for what these observers assert is a failure to stand up for the liberal
-
An imminent private housing supply chasm and its solutions Ryan Ip Man-ki, Jason Leung Yeuk Ho
As the 5th wave of Covid-19 gradually subsides, waves of new private housing projects are now under the spotlight. Intensifying competition among developers became the talk of the town after a