Hong Kong Financial Secretary Responds to SpaceX Barring HK and Mainland Investors from Subscribing: This Move Will Harm US Interests

Odaily Planet Daily News: In response to market rumors that SpaceX has barred investors from Hong Kong and Mainland China from participating in its new share subscription, Hong Kong Financial Secretary Paul Chan Mo-po stated that this move will harm US interests. He noted that while the US previously restricted mainland companies from listing on American exchanges, those companies ultimately shifted their listings to Hong Kong, inadvertently making Hong Kong a beneficiary. Chan emphasized that Hong Kong should focus on its own affairs by improving the listing system, enhancing liquidity, and safeguarding its reputation. He pointed out that Shanghai and Shenzhen are home to a large number of high-quality tech companies with attractive valuations. Hong Kong is currently working to guide sovereign wealth funds and long-term capital to co-invest in future industries, including hard tech, health tech, and life sciences projects. Hong Kong is also establishing an international central securities depository infrastructure, which will consolidate various securities, bonds, and stocks onto a single platform to enable cross-margining, thereby rapidly boosting liquidity and improving capital efficiency. (Source: Aastocks)