Li: Hong Kong is not going to go away, not Hong Kong is also unnecessary to compete

Hong Kong's chief executive, Li, appeared at the ceremony this morning and revealed that the advisory work on the multiple shareholding structure related to Alibaba's listing has been handed over to the listing committee, believing that the man is doing the right job. For the eventual listing of Alibaba, Li said that "Hong Kong is not going to go away, not Hong Kong is also pointless to compete."

Huizhou Merchants Bank and the popular new shares of the Boya exchange landed at the HKEx this morning. The chief executive of HKEx, Li, attended the listing ceremony and said that consultation on the multiple shareholding structure of Hong Kong listed companies was advancing. What is to be done is to say that the Hong Kong is not going to go away, and that it is not Hong Kong that has no need to compete. He disclosed that the current consultation work is being referred to the listing Committee, and stressed that he believed that "people are doing what is right."

Alibaba recently disclosed that it would suspend its initial public offering, but did not decide whether to go to the U.S. or return to Hong Kong. Li said today that many internet companies chose to list in the United States, mainly because the Nasdaq listing does not need to look at the company's past performance, so the initial performance of stocks to the U.S. listing is very common. He stressed that the Hong Kong market has its own competitive edge.

HKEx recently convened a quarterly policy meeting of the listing Committee to promote the review of public consultation on the ownership structure. On the eve of the meeting, the Financial Secretary, Mr John Tsang, said publicly that the SFC and HKEx could promote consultation on the changes to the listing rules, and if they felt that there was a need to amend the rules, they could also seek appropriate ways to deal with them.

Some analysts estimate that Hong Kong will return to the top three of the world's IPOs this year, as Hong Kong has recently ushered in a new wave of new shares. Li said that 9 and October each year are the traditional peak of the IPO, but the whole year depends on the market trend, it is difficult to predict the other regional IPO market situation, so it is difficult to forecast Hong Kong in the IPO market rankings. But he said he believes more companies will be listed in Hong Kong this quarter.

On the progress of the London Metal Exchange (LME) Depository system reform, Li said that the current reform of the warehouse system has been completed, the industry's attitude is very positive, the future will be a comprehensive reform. He also pointed out that the outside of the LME legal action is unfounded, he did not understand what the so-called, but do not want to comment on the United States litigation system. He stressed the ability of Hong Kong to deal with these events.