The standing committee of the National People's Congress may allow IPOs in the cross-border connection to boost the economy of Hong Kong, The Standard reported on Thursday, citing Starry Lee Wai-king, a member of the committee.
Former Hong Kong Exchanges and Clearing chief executive Charles Li Xiaojia believes that an IPO Connect is expected to launch within the next decade. However, it is currently impractical due to China's economic challenges, the Standard reported.
Hong Kong has long wanted closer access to the mainland market to boost its economy. Easier access to IPOs on the mainland and mainland access to Hong Kong IPOs will benefit both sides, the Standard said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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