Download SFST encourages Canadian investors to use HK to access China

Press release
SFST encourages Canadian investors to use HK to access China market
Tuesday, June 27, 2006
The Secretary for Financial Services and the Treasury, Mr Frederick Ma,
has encouraged the Canadian securities industry to use Hong Kong as a
platform to access the business and investment opportunities arising from the
Mainland's robust economic growth.
Mr Ma was addressing a conference in Whistler, Canada today (June 26,
Vancouver time).
The address was made at the 90th annual conference of the Investment
Industry Association of Canada, formerly the industry association arm of the
Investment Dealers Association of Canada (IDA) which is the national
self-regulatory organisation of the securities industry.
Delivering a keynote speech entitled "Hong Kong as a Preferred Platform
for Accessing the Business and Investment Opportunities in Mainland China",
Mr Ma outlined the strengths of Hong Kong as an international financial centre
and its unparalleled advantages because of the close ties and economic links
with the Mainland.
He told the Canadian audience that Hong Kong's pivotal role as the
gateway to the Mainland gave rise to lots of opportunities for co-operation
between Hong Kong and Canada. He shared with them some areas where
Hong Kong could facilitate Canadian companies to explore the business and
investment opportunities available on the Mainland and Hong Kong's role as
the premier capital formation centre for Mainland enterprises and as a major
asset management centre.
"With 13 years of experience in raising capital for Mainland companies,
Hong Kong has firmly established its position as the preferred listing venue for
Mainland enterprises," he said.
"The IPO by the Bank of China last month, which was reported to be the
biggest IPO worldwide in the recent six years, has demonstrated again to the
world the growing participation of Mainland enterprises in the global capital
1
markets as well as the substantial fund-raising capability of Hong Kong's stock
market.
"Our financial services industries will continue to capitalise on the growth
opportunities on the Mainland. Our markets offer an abundant supply of
investment opportunities with huge growth potential to investors from all over
the world," he said.
On asset management, Mr Ma said that with high domestic savings in Asia,
in particular on the Mainland, positive regional economic outlook and the vast
pension scheme assets, there was great potential for Hong Kong to expand its
asset management business further. "The opening up of the Mainland
economy and the financial reforms underway are generating more and more
business opportunities for our asset management and private investment
industries," he said.
Noting that there were only a few Canadian brokerage firms in Hong Kong,
operating on a limited scale, Mr Ma encouraged Canadian investment dealers
to take advantage of the excellent prospects of Hong Kong's asset management
industry and use Hong Kong as the base to expand their business in the region.
"With our unique strengths and close ties with the Mainland, we provide
an excellent financial intermediation channel for funds flowing into and out of
the Mainland.
"There is no shortage of lucrative investment and business opportunities,
and more and more prestigious fund houses and other financial institutions are
coming to Hong Kong. You surely would not want to lag behind," Mr Ma
said.
2