Ancient Capital Teams Up with Financial Hub

Hong Kong Exchanges and Clearing Limited (“HKEX”) and the Xi’an Municipal People’s Government (“Xi’an Government”) has inked a Memorandum of Understanding (“MOU”) to strengthen cooperation, particularly to support Xi’an-based companies interested in listing in Hong Kong.

Under the MOU, HKEX and the Xi’an Government will exchange information on the latest developments in the capital markets of Hong Kong and Xi’an, as well as jointly host seminars for Xi’an-based organisations on capital raising opportunities in the region, thus paving the way for more comprehensive future collaboration.

Famed for its terracotta warriors, the 3,000-year old ancient capital of Xi’an is located in western China’s Shaanxi Province and has in recent decades transformed itself into a research and development (“R&D”), technology and aerospace hub with companies engaged in equipment manufacturing, healthcare, new energy, biotechnology, semiconductors, aerospace and aircraft systems and components.

Large multinational firms the likes of Samsung, Siemens, Honeywell, GE, IBM, Applied Materials, Micron, Johnson & Johnson, Bosch, Schneider, Caterpillar etc. all have a presence in Xi’an due not only to the large market of western China, but because of the strength and depth of Xi’an’s R&D, supply chain and manufacturing capabilities. The city’s scientific and industrial prowess are significant and continue to grow.

Currently, there are nine Xi’an-based companies listed on HKEX and more are expected to go public in Hong Kong to access international capital and enhance their exposure.