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HKEx sets up mainland unit

Added 14th April 2015

Preparing for further integration with China's markets, Hong Kong Exchanges and Clearing has established a mainland division and made two appointments to head the unit.

HKEx sets up mainland unit
The HKEx's new mainland division is comprised of a development team in Hong Kong, its representative office in Beijing and related offices in Shanghai and Guangzhou.
It will be co-headed by Mao Zhirong, who led the mainland development team before it became part of the new division, and Li Gang, who had been a senior adviser since joining HKEx in March 2013, the exchange said.
Both will report to the HKEx's chief executive.
Previously, Mao worked for the Shenzhen Stock Exchange, where he helped to implement the Shanghai-Hong Kong Stock Connect.
Li Gang had senior management roles at several mainland futures firms before founding Shanghai Billionton Metal in 2004 and serving as its chief executive officer until 2012.
"These changes reflect the importance of our China business following the launch of Stock Connect and our aim to pursue more connectivity programmes with mainland exchanges," said HKEx chief executive Charles Li.
Hong Kong is expected to launch a stock connect initiative with the Shenzhen market later this year.
Hong Kong's recent stock market rally and record-setting volume could this year make it the world's third-largest stock market, displacing Japan, according to a Bloomberg report.
The world's two largest markets by value of equities are the US ($24.7trn) and the mainland ($6.9trn), according to the report. Hong Kong has been near $5trn.


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