Hong Kong’s finance chief courted Italian companies on Thursday to go public on the city’s stock exchange, which would allow them to tap into mainland Chinese liquidity and solidify their presence in Asia.
Addressing the Trade Development Council’s “Think Business, Think Hong Kong” symposium in Milan, Financial Secretary Paul Chan Mo-po highlighted the deepening ties between Hong Kong and Italy, noting their shared passion for creativity and enterprise and “flourishing” bilateral trade worth €7.2 billion (US$8.4 billion) in 2024.
Over 200 Italian companies maintain a regional presence in Hong Kong, from globally recognised brands and manufacturing leaders to prominent firms in sectors like banking, insurance, logistics and food production.
“Italian companies like Prada and Ferretti are already listed on the Hong Kong stock exchange, and I encourage more Italian companies to pursue dual listings on both Borsa Italiana and the Hong Kong stock exchange,” Chan said.
Chan was heading an 80-strong delegation spanning finance, innovation, technology, logistics and creative industries, but shortened his trip and was scheduled to arrive back in Hong Kong on Friday morning in response to the deadly fire in Tai Po’s Wang Fuk Court.
Chan told the audience that the Hong Kong stock market was among the best-performing globally this year, noting that its market capitalisation stood at €5.3 trillion and that the Hang Seng Index had already recorded a gain of more than 25 per cent to date.