(Yicai Global) Sept. 9 -- The Hong Kong Stock Exchange has signed an agreement with the Shandong provincial government to support and promote developments in both the capital and commodities market, the stock exchange announced yesterday.
The MOU was signed by Mr. Li Gang, Hong Kong Exchanges and Clearing Ltd.'s co-head of market development, and Mr. Ge Zhiqiang, deputy director of the Shandong Financial Services Office, at a ceremony in Jinan.
A conference was also held to inform Shandong-based enterprises how to list in Hong Kong.
"Shandong should make use of the opportunities offered by the MOU to deepen its cooperation with HKEX," said Deputy Shandong Governor Zhang Wufeng. "Shandong enterprises should also strengthen their cooperation with HKEX and other Hong Kong financial intermediaries to develop a better understanding of the international capital markets and to gain the confidence to raise capital in Hong Kong."
"HKEX aims to work closely with Shandong's government, financial institutions and warehouse companies to support the further growth of the province's physical economy through opportunities in spot commodity trading and the internationalisation of warehousing," said HKEX Chief Executive Charles Li.
Qingdao-based Tsingtao Brewery Co. [HKG:0168] listed in Hong Kong in 1993, the first mainland company to do so.As of last month, there were 980 mainland companies listed in Hong Kong.