Zhang Yu JeniZhang13@163.com A TOTAL of 661 firms listed in Hong Kong, accounting for 30 percent of the total, come from the mainland, according to a report released last week by Tiger Brokers, an online brokerage helping Chinese mainland investors invest in United States or Hong Kong shares. As of April 11, Beijing came in first with 140 firms having shares traded on the Hong Kong stock exchange, followed by Guangdong with 130. Shanghai was a distant third with 74 firms listed in the city. As one of the world’s most important financial markets, Hong Kong remains a favorite destination for mainland companies lining up for an initial public offering. The report shows that one third of the listed firms from the mainland are based in eastern China. The distribution of the listed firms is consistent with the current economic situations of the provinces and municipalities on the mainland, said the Tiger Brokers research team, adding that the eastern coastal area is economically developed and has a more dynamic market that can benefit the growth of local firms. As Beijing, Shanghai, Guangdong and eastern provinces remain magnets for capital, a more balanced distribution of listed firms is seen in different industries, the report says. The report predicts that the number of mainland firms seeking an initial public offering in the Hong Kong stock market will see stable growth. Municipalities and provinces that stand out in emerging industries such as modern services and high technology are expected to list more firms in Hong Kong. |