- CNTV English - CCTV News

Homepage > News > Biz >

Exchange looks to upgrade to exploit resources

01-21-2012 10:04 BJT

HONG KONG - Hong Kong Exchanges and Clearing Ltd (HKEx), among the world's largest bourse operators, said on Thursday that it planned to ramp up spending to upgrade infrastructure in the commodities space and confirmed its commitment to deeper ties with its mainland peers.

HKEx said capital expenditure this year would be about HK$2 billion ($257.70 million), although it later clarified that this would be spread over a number of years, expanding into areas such as commodities and fixed income.

"We are coming to a moment when the mainland will become so international, but are frustrated that they cannot manage the commodities sector on their terms," HKEx Chief Executive Charles Li told a news briefing in Hong Kong.

"If we can tap into this, we can grow into it."

He reiterated plans to set up a joint venture with bourses in Shanghai and Shenzhen this year for trading futures products with underlying assets in the mainland.

HKEx said in August that it was in talks with peers in Shanghai and Shenzhen on a joint venture for equity derivatives and index compilations, a move that would represent the first concrete link between the three exchanges focused on China's vast economy.

Last year, the mainland's IPO market, worth 286 billion yuan ($45.31 billion), was the biggest in the world. Hong Kong's IPO market raised 220.7 billion yuan during the same period, while the US market was worth 224.3 billion yuan, according to the accounting firm PricewaterhouseCoopers LLP.

Editor:Wang Chuhan |Source: China Daily

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program