Hong Kong market well positioned to benefit from China and wider global economic growth: HK stock exchange chief

“Now, offerings were a little bit smaller because the markets are a bit choppy, and therefore people prefer to wait and to time it a little bit more, or just to do a smaller offering,” he explained.

“In terms of capital rates, it’s a single percentage digit below last year. So it’s not that much, considering that globally it’s 40 per cent down.”

The HKD-RMB Dual Counter Model and the Dual Counter Market Making Programme will also help connect China and the rest of the world.

“Now there will be this unique opportunity to have Chinese domestic investment that can invest in international companies that decide to list in Hong Kong. This is very unique. There’s no other market that provides that strength,” said Mr Aguzin.

Mr Aguzin said the first half of the year has been a “stubborn” and “challenging” environment for Hong Kong stocks, with factors like high inflation and interest rates.

While it is exposed to such global developments, it is also uniquely positioned to benefit.

“It has this ability to be part of two systems in a way, and be part of China and be part of the international (system), which I think positions it very well,” said Mr Aguzin.