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China's Hong Kong ranks second largest in private equity in Asia: financial chief
Last Updated: 2019-01-17 09:06 | Xinhua
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China's Hong Kong is Asia's second largest private equity center, trailing only the mainland, an official said here on Wednesday.

Private equity is critical to Hong Kong's asset and wealth management landscape, said Paul Chan Mo-po, financial secretary of the government of the Hong Kong Special Administrative Region.

As of mid-2018, Hong Kong's private equity players managed 152 billion U.S. dollars in Hong Kong, which is about 16 percent of the total capital under management in Asia, the financial secretary said at the Asia Private Equity Forum, organized by the Hong Kong Venture Capital and Private Equity Association.

During the first half of 2018, private equity funds raised in Hong Kong amounted to 12 billion dollars, about 20 percent of the total funds raised in Asia, he said.

In the coming months, the government will put out a proposal for industry consultation about introducing a limited partnership regime for private equity funds in Hong Kong.

"Thereafter, we will introduce a bill in the Legislative Council. If passed, it would be the second dedicated regime for a fund vehicle in our law books," Chan said.

Green finance is also promising and the government will soon launch its green issuance under the government green bond program, Chan said.

The government will continue to boost Hong Kong's unique role as a gateway between international markets and investors and their counterparts on the mainland, he said.

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China's Hong Kong ranks second largest in private equity in Asia: financial chief
Source:Xinhua | 2019-01-17 09:06
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