The future of Hong Kong

Author: | Published: 1 Dec 2009

Tom Young and Rachel Evans
Editor, Asia editor

Mark Dickens, the head of listing at the Hong Kong Stock Exchange, believes that a new listing regime is needed to attract foreign companies to Hong Kong. Speaking at the Asia Capital Markets Forum on November 18, Dickens said: "If we're going to talk about bringing overseas products to Hong Kong then we need a different listing regime. It has to be retail-orientated so you need a red flag or HDR [Hong Kong Depositary Receipt] regime, mark two."

Earlier Heidi Yang, head of corporate advisory at Deutsche Bank, explained how banks were keen to attract foreign companies rather than rely on a pipeline from mainland China. The exchange has been working on this recently, approving several new jurisdictions of incorporation from which companies can list in Hong Kong.

Others are a work in progress: German companies, for example, are not yet allowed to...