Enchancing our Position as an
International Financial Centre
26. Hong Kong's development as an
international financial centre during the past year was
most encouraging. Hong
Kong ranked first in Asia and third in the world last
year in terms of capital raised, with total Initial
Public Offering (IPO) and post-IPO equity funds reaching
some $265 billion, out-performing the
and Tokyo Stock Exchanges.
Market capitalisation also hit a new high of
about $6,650 billion, nearly 50 per cent above the
, Mainland enterprises have raised over $900 billion
since the introduction of H-shares in 1993.
As at the end of last year, a total of 304
Mainland enterprises had listed here, 22 per cent more
than in 2003 and representing over a quarter of the
total number of listed companies in Hong Kong.
These enterprises accounted for about 30 per cent
of our total stock market capitalisation.
Trading in their shares last year constituted
half of our total market turnover.
In 2004 alone, 44 Mainland enterprises raised
funds through listing in
. The vast
majority of Mainland enterprises listed outside the
Mainland are quoted on our stock exchange.
Of those listed in Hong Kong, only a minority are
also listed in other overseas markets, and more than 70
per cent of their trading is conducted in
has further consolidated its position as the premier
international capital formation centre for the Mainland.