![]() |
chinadaily.com.cn | ||||||||
|
|||||||||
HK 10 Years > Economy |
HK economy looking forward to better future
The Industrial and Commercial Bank of China made history with its Hong Kong listing. The Mainland's largest bank raised more than 19 billion US dollars. And the IPO was the largest ever in the global stock markets, a major achievement for the Hong Kong stock market. Lee Yeh-Kwong, former chairman, HK stock exchange, said, "The ICBC IPO attracted a huge number of international investors. On the one hand, this demonstrated their confidence in ICBC as well as in the Chinese economy. On the other hand, it showed that they have confidence in Hong Kong market. " But ICBC is not the only Mainland player to push the Hang Seng index high. Other giants, including the Bank of China, the China Construction Bank, and the Bank of Communications, have all contributed to the bull trend through H-share IPOs. In 2006, the market value of the Hong Kong stock market exceeded 13 trillion HK dollars, ranking the 7th in the world. Lee Yeh-Kwong said, "There are three international financial centers in the
world. One is in America, one is in Europe and the other is in Asia. I believe
that Hong Kong has the capability to stand equally with New York and London and
become the center in Asia." Stocks are not the only attraction. Trade also drives the economy. The COSCO Guangzhou, one of the largest cargo ships in the world, is about to pull into Hong Kong. Every year, it transports goods worth over ten million US dollars between Hong Kong and the United States. Most of the goods are coming from or will be delivered to the Mainland.
After China joined the World Trade Organization, foreign trade has continued to expand dramatically. That has given great impetus to Hong Kong's shipping industry and helped the city retain its position as an international trade hub. In 2006, exports from the Mainland shipped via Hong Kong accounted for more than 60 percent of Hong Kong's total carrying trade. Hong Kong is now the 9th largest trading power in the world, well up from 18th ten years ago. With exports growing fast in the Mainland, prospects for Hong Kong's shipping industry are looking better than ever. |
|
|||||
Copyright 1995-2007. All rights reserved. |
主站蜘蛛池模板: 兰州市| 霍城县| 东至县| 林芝县| 呼和浩特市| 蒙山县| 乳山市| 岫岩| 玉屏| 东至县| 乡宁县| 无极县| 张家口市| 定兴县| 广平县| 通河县| 双鸭山市| 衡水市| 马边| 沂源县| 卓资县| 城固县| 汨罗市| 和顺县| 澳门| 扬中市| 大悟县| 钦州市| 平谷区| 叙永县| 桦川县| 江永县| 东阿县| 台南县| 额敏县| 溧水县| 任丘市| 巴东县| 镇康县| 新闻| 浦东新区|