Hong Kong's Financial Services Development Council (FSDC) recommends that the city pitch Southeast Asia and the Middle East for more global listings and issue long-term bonds to attract patient capital. New vice-chairman Rocky Tung Yat-ngok said Indonesia would be the first target market, given its large population and strong mining and Islamic finance sectors.
Hong Kong's Financial Services Development Council (FSDC) has called for more global listings and an expanded Stock Connect scheme to bolster the city's role as an international financial hub. At a media briefing last week, vice-chairman Rocky Tung Yat-ngok said: “We would like to do more roadshows in Southeast Asia and the Middle East to introduce the benefits of listing in Hong Kong and the strength of the local capital market.” Tung assumed the role in February, succeeding the retired King Au.
Tung highlighted Indonesia as the first market to target, citing its population of about 277 million—the world's fourth largest, after India, China, and the US, according to World Bank data—and its robust mining and Islamic finance sectors.
He also proposed that regulators widen the Stock Connect to include selected international companies with secondary listings in Hong Kong, allowing mainland Chinese investors to trade their shares. This would enhance connectivity between Hong Kong, the mainland, and global markets.
The FSDC further recommends issuing long-term bonds to draw patient capital from long-term investors. These steps aim to address global financial competition and sustain Hong Kong's position as a leading Asian financial center.