Hong Kong Financial Secretary Responds to SpaceX IPO Ban on Mainland and Hong Kong Investors: This Move Would Harm U.S. Interests

Odaily Planet Daily News In response to market rumors that SpaceX has banned Hong Kong and mainland Chinese investors from participating in its new share subscription, Hong Kong Financial Secretary Paul Chan Mo-po stated that such a move would harm U.S. interests. He noted that the U.S. previously restricted mainland Chinese companies from listing in the U.S., and ultimately those companies came to Hong Kong for listings instead, making Hong Kong an unexpected beneficiary. He emphasized that Hong Kong should focus on its own affairs by improving the listing system, enhancing liquidity, and safeguarding its reputation. Chan pointed out that Shanghai and Shenzhen have a large number of high-quality tech companies with attractive valuations, and Hong Kong is channeling 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 building an international central securities depository infrastructure to place various securities, bonds, and stocks on a single platform, enabling cross-margining to rapidly boost liquidity and improve capital efficiency. (Aastocks)