Kazakhstani firms urged to invest in HK

Hong Kong provides an ideal capital formation and global investment platform, Hong Kong Secretary for Financial Services & the Treasury Frederick Ma said at a business lunch in Kazakhstan Friday.

Addressing more than 200 guests in Almaty, Ma encouraged Kazakhstani companies to make use of Hong Kong's listing platform to raise capital.

Noting that Hong Kong was a bridge to opportunities in the Chinese mainland, Ma said investors who are eyeing the growing mainland market will certainly find Hong Kong's equity market an invaluable investment platform.

He said Hong Kong has a lot to offer Kazakhstani enterprises in terms of liquidity, quality and cost-effectiveness.

"We have a large, liquid and deep stock market attracting both Hong Kong and international investors. Over 40 percent of the total trading volume of our stock market comes from overseas investors," he said.

Its regulatory regime is fully in line with international standards, Ma said, adding that it is more cost-effective to list in Hong Kong compared with other international financial centers, such as the United States, in terms of professional fees and underwriting fees. "In other words, you get the same service at a lower cost," he said.

He believed that Kazakhstan's rapid economic growth and Hong Kong's expertise in financial services would make a perfect match.

Source: Xinhua