FINANCIAL SERVICES | Staff Reporter, Hong Kong

Mainland companies listed in Hong Kong hit 1,002 in December 2016

Total market cap hit US$2tr.

Hong Kong Trade Development Council (HKTDC) Research found that, as of November 2016, there were 11 licensed banks and seven representative offices, incorporated in the Chinese mainland, operating in Hong Kong. Big lenders, including the Bank of China, the Industrial and Commercial Bank of China, Agricultural Bank of China and China Construction Bank, have opened branch operations in Hong Kong.

Mainland commercial banks such as the Bank of Beijing, Bank of Dongguan, China Bohai Bank, China Guangfa Bank, Hua Xia Bank and Ping An Bank have representative offices in Hong Kong.

"Hong Kong is also a key offshore capital-raising centre for mainland enterprises. As of December 2016, 1,002 mainland companies were listed in Hong Kong, comprising H-share, red-chip and private companies with total market capitalisation of about US$2 trillion, or 63 per cent of the market total. Since 1993, mainland companies have raised more than US$500 billion via stock offerings in Hong Kong," HKTDC said.

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