HONG KONG Exchanges and Clearing Limited (HKEX) and Shaanxi province signed a Memorandum of Understanding (MoU) in Xi’an on October 25 to strengthen mutual communication and capital market cooperation, as well as to encourage more Shaanxi-based enterprises to list in Hong Kong.

The MoU was signed by Xu Chunmeng, HKEX chief representative of Beijing Representative Office, and Su Huchao, director of Shaanxi Provincial Financial Regulatory Bureau.

Mao Zhirong, head of mainland development, HKEX, and Liang Gui, vice governor of Shaanxi province, as well as Yao Jinchuan, deputy director of Shaanxi Hong Kong and Macau Affairs Office, and Guo Shiming, deputy director of CSRC Shaanxi Branch, witnessed the signing.

HKEX, together with Shaanxi Provincial Financial Regulatory Bureau and The Hong Kong Trade Development Council, also co-hosted an IPO workshop in Xi’an on the latest developments in the Hong Kong IPO markets.  Around 350 representatives from Shaanxi enterprises attended the IPO workshop.

As of the end of September, a total of 12 Shaanxi-based companies have listed on HKEX, raising US$16 billion, and with a total market value of US$31 billion.  With the signing of the MoU, HKEX and Shaanxi Province will further strengthen cooperation to facilitate listings of Shaanxi-based enterprises in Hong Kong.