More tech companies likely to list in Hong Kong in next decade, Alibaba’s Joe Tsai says



a person standing in front of Tung Chee-hwa et al. posing for the camera: Joe Tsai, Alibaba’s executive vice-chairman (left), and former Hong Kong Chief Executive Tung Chee-hwa, at the China Conference: United States organised by the Post. Photo: Edmond So


© SCMP
Joe Tsai, Alibaba’s executive vice-chairman (left), and former Hong Kong Chief Executive Tung Chee-hwa, at the China Conference: United States organised by the Post. Photo: Edmond So

More technology companies from across the globe – not just those based in China – are likely to list on Hong Kong’s stock exchange in the next five to 10 years, particularly emerging tech leaders in Southeast Asia, according to Alibaba’s executive vice-chairman Joe Tsai.

Non-US investors, as well as sovereign wealth and pension funds, are increasing their allocations to Hong Kong and Asia as they seek to tap future growth in the region, Tsai said at a fireside chat as part of Hong Kong Exchanges and Clearing’s (HKEX) first Southeast Asia Forum on Thursday. HKEX is the operator of the Hong Kong bourse.

“Think about that huge capital base coming to Asia, and a lot of that is focused on

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Chinese Smartphone Maker Xiaomi Sets Hong Kong Top-Up Record

Chinese mobile phone maker Xiaomi has raised US$3.9 billion in Hong Kong’s largest-ever top-up share sale. The company is looking to raise cash to allow it to expand at a time it is winning business away from rival Huawei Technologies.

Xiaomi shares, listed as HK:1810 with a U.S. ADR XIACY, were briefly suspended in morning trading Wednesday in Hong Kong. Details of the offer were announced at lunchtime, a weird break from the normal after-the-close practice.

The shares fell as much as 12% but recovered to a 7.1% loss by the close, not quite matching the 10% discount of the new shares. Xiaomi was the most active stock traded in Hong Kong, helping drag the benchmark Hang Seng index down 0.1% for the day.

Xiaomi in the third quarter became the world’s third-largest smartphone seller, with 13% of the market last quarter, according to Counterpoint Research. Its 46.2 million units

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Hong Kong leader urges people to stay home as cases rise

HONG KONG (AP) — Hong Kong leader Carrie Lam on Tuesday urged residents to stay home as the city grapples with a resurgence of the coronavirus, which has infected more than 600 people in the last week.

Lam asked citizens to “refrain from social gatherings” and said that people, in particular the elderly, should remain at home.

“The latest wave of the epidemic is rather severe. Every one of us should do our best and exercise a high level of discipline to fight the pandemic,” she said at a regular news conference. “The coming two weeks is a crucial period.”

The city reported 82 new infections on Tuesday, 23 of which were unlinked to known clusters. Hong Kong has reported 6,397 infections since the pandemic began, with 109 deaths.

Many of the new infections in Hong Kong have been tied to dance studios, and outbreaks have also been found among

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Hong Kong, Singapore bubble delay highlights hurdles to travel recovery

SINGAPORE (Reuters) – A delay to Asia’s first travel bubble between Hong Kong and Singapore has hit the shares of their flag carriers and highlighted the challenges facing the global travel industry as it tries to rebound from the pandemic.

FILE PHOTO: Cathay Pacific employees, wearing masks against COVID-19, are seen behind counters with glass dividers at Hong Kong International Airport, China October 20, 2020. REUTERS/Lam Yik

The arrangement was postponed on Saturday, one day before it was due to launch, after Hong Kong reported a jump in coronavirus cases. Authorities and aviation experts have said the bubble would provide a blueprint for quarantine-free travel before a vaccine is widely available.

“There is no doubt that there are many challenges around it,” said Singapore hotelier Marcus Hanna, who had taken bookings from Hong Kong tourists and hopes for similar arrangements with major markets like mainland

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Hong Kong looks to mainland China for next air travel bubble

SINGAPORE — Hong Kong is hopeful its next “air travel bubble” could be with mainland China, the executive director of the city’s tourism board has said.

Dane Cheng told CNBC such plans would hinge on the success of the forthcoming Hong Kong-Singapore travel corridor. But he noted that adding a similar arrangement for quarantine-free travel around China’s Greater Bay Area would be the logical next step for business and leisure travelers.

“The next one for Hong Kong that we would like to see (would be) with the mainland, the Greater Bay Area,” Cheng said Friday.

The Greater Bay Area links several cities in Guangdong province with the special administrative territories of Hong Kong and Macao.

“That would be a key border for us,” he added, noting both proximity and common business and family ties.

Rising Covid cases threaten deal

We would like to see more countries and more regions, more

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ByteDance’s Chief Rival Files for $5 Billion Hong Kong IPO

(Bloomberg) — Kuaishou Technology has filed an application for a Hong Kong initial public offering, heading toward a listing that could raise as much as $5 billion and beat larger rival ByteDance Ltd. to market.



Beijing Kwai Technology Co.'s app Kuaishou, or Kwai, is arranged for a photograph on a smartphone in Hong Kong, China, on Tuesday, Jan. 16, 2018. Tencent-backed Chinese startup Kuaishou is seeking to raise funds at about a $17 billion valuation, people familiar with the matter said, as it expands its video-streaming service to Southeast Asia.


© Bloomberg
Beijing Kwai Technology Co.’s app Kuaishou, or Kwai, is arranged for a photograph on a smartphone in Hong Kong, China, on Tuesday, Jan. 16, 2018. Tencent-backed Chinese startup Kuaishou is seeking to raise funds at about a $17 billion valuation, people familiar with the matter said, as it expands its video-streaming service to Southeast Asia.

Kuaishou, or “fast hand,” reported revenue climbed 48% to 25.3 billion yuan ($3.8 billion) in 2020’s first half, underlining the scorching pace of growth of a Chinese short video market. The Tencent Holdings Ltd.-backed startup is angling for a valuation of $50 billion in an offering as soon as the end of this year, almost twice its current

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ByteDance Rival Kuaishou Technology Files for Hong Kong IPO

(Bloomberg) — Chinese video-sharing startup Kuaishou Technology filed an application for a Hong Kong initial public offering, raising hopes that the city will continue to see a wave of listings from fast-growing internet companies.



Beijing Kwai Technology Co.'s app Kuaishou, or Kwai, is arranged for a photograph on a smartphone in Hong Kong, China, on Tuesday, Jan. 16, 2018. Tencent-backed Chinese startup Kuaishou is seeking to raise funds at about a $17 billion valuation, people familiar with the matter said, as it expands its video-streaming service to Southeast Asia.


© Bloomberg
Beijing Kwai Technology Co.’s app Kuaishou, or Kwai, is arranged for a photograph on a smartphone in Hong Kong, China, on Tuesday, Jan. 16, 2018. Tencent-backed Chinese startup Kuaishou is seeking to raise funds at about a $17 billion valuation, people familiar with the matter said, as it expands its video-streaming service to Southeast Asia.

Morgan Stanley, Bank of America Corp. and China Renaissance Holdings Ltd. are joint sponsors of the proposed IPO, according to pre-listing documents posted on the Hong Kong stock exchange’s website Thursday. While the filing didn’t provide a fundraising target, people familiar with the matter said in September that the potential share sale could raise as much as $5 billion.

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Hong Kong needs tougher laws to tackle wildlife crime say researchers

With its busy port and transport links, Hong Kong is a major transit point for illegal parts of endangered animals like elephant
With its busy port and transport links, Hong Kong is a major transit point for illegal parts of endangered animals like elephants

Hong Kong is thriving as a transnational wildlife smuggling hub because its laws are not strong enough to tackle organised crime running the lucrative trade, researchers said Friday.


With its busy port and transport links, the semi-autonomous territory is a major transit point for illegal parts of endangered animals like elephants, rhinos and pangolins—most of it headed for consumers in mainland China.

Record seizures have been made in recent years.

But Hong Kong University researchers said the confiscations mask the lack of progress, noting: “No wildlife traffickers have ever been prosecuted for money laundering related offences and no syndicates indicted for wildlife smuggling.”

The two year study, authored by Amanda Whitfort, a professor at the law faculty, and Fiona Woodhouse, from the Society for the Prevention of Cruelty

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Hong Kong Aerospace Technology Group Limited Won the First Prize of “2020 Surveying and Mapping Science and Technology Award”

Recently, the result of Chinese Society for Geodesy Photogrammetry and Cartography (CSGPC) “2020 Surveying and Mapping Science and Technology Award” was announced. Hong Kong Aerospace Technology Group Limited won the first prize in the joint application project of “Major Infrastructure Deformation Radar Remote Sensing Key Technology and Demonstration Applications”.

It is known that the project is mainly facing three major issues: remote sensing mechanism of cloudy and rainy environment, deformation monitoring method of urban agglomeration infrastructure and industrialization construction of radar remote sensing whole chain. It breaks through three key technologies: interpretation of typical targets microwave sensing mechanism, robust estimation of InSAR deformation in complex and changeable infrastructure environment and integrated engineering treatment. The project forms a new integrated innovation result of “Remote sensing ground station – theoretical research – core technology – demonstration application – industry incubation”.

At present, the result of this project has been promoted in multiple

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