Chinese listed firms in the U.S. will likely list in Hong Kong this year, said the chief executive of Hong Kong Exchanges and Clearing (HKEX).
Charles Li cited political pressures from the U.S., following Beijing's introduction of a new national security on Hong Kong, during an industry conference held by Piper Sandler via webcast, «Reuters» reported on Thursday.
The CEO's comments are the latest in series of statements by him that attempt to inspire confidence in Hong Kong. Last week, he called the special administrative territory's role as Asia’s financial hub «undisputed,» despite ongoing health and political headwinds.
In January this year, Li said on his official blog that the city's glory days were not over despite factors that posed a challenge to the «One Country, Two Systems» regime.
U.S. Countermeasures
Last week U.S. President Donald Trump said that it would revoke Hong Kong’s special trading status for Hong Kong, and would be preparing countermeasures, despite continuous assurances by Hong Kong and Beijing officials that essential freedoms and judicial independence would remain, following the introduction of the new law.
Stepping Down
Li, who earned the moniker of «Mr. China» for tightening ties between the Hong Kong Exchange and mainland China, said in May that he would not be seeking reappointment after his contract ends in October 2021.
HKEX has formed a selection committee led by chairman Laura Cha to find a successor for Li, according to a statement from the bourse.
