Chinese Companies and the Hong Kong Stock Market

Listing by companies from one country on the stock market of another country is a device often used both to raise capital in, and to increase bonding with, the target country. This book examines the listing by Chinese companies on the Hong Kong stock market. It discusses the extent of the phenomenon, compares the two different regulatory regimes, and explores the motivations for the cross-listing. It argues that a key factor, in addition to raising capital and bonding with the Hong Kong market, is Chinese companies' desire to encourage legal and regulatory reforms along Hong Kong lines in main

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Year of publication:	2013
Authors:	Huang, Flora Xiao
Other Persons:	Yeung, Horace (contributor)
Publisher:	Hoboken : Taylor and Francis
Subject:	Hongkong \| Hong Kong \| Aktienmarkt \| Stock market \| China \| Börse \| Bourse

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Extent:	Online-Ressource (280 p)
Series:	Routledge Economic Growth and Development Series
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Cover; Title Page; Copyright Page; Table of Contents; List of illustrations; Preface and acknowledgments; List of abbreviations; List of legislation and regulatory instruments; 1 Introduction; 1.1 Aim of the book and its justification; 1.2 An outline of chapters; Notes; 2 Theoretical foundations; 2.1 Law and finance in the context of China; 2.2 Existing theories for cross-listing; 2.3 Major motivation for Chinese cross-listing: market and legal development; 2.4 Concluding remarks; Notes; 3 Stock market development in China and Hong Kong; 3.1 Development of China's stock markets 3.2 Development of Hong Kong's stock market3.3 Concluding remarks; Notes; 4 Weak and strong stock markets: a comparison of securities regulation and enforcement between China and Hong Kong; 4.1 Scope of comparison; 4.2 Comparison of securities regulation; 4.3 Comparison of securities enforcement; 4.4 Concluding remarks; Notes; 5 Chinese cross-listings in Hong Kong: procedures and requirements; 5.1 Overview: history and statistics; 5.2 Listing requirements and procedures for Chinese/Hong Kong companies; 5.3 A critical analysis of Hong Kong listing rules: Chapters 19 and 19A 5.4 Bonding or avoiding? Reflections on domestic public offerings and listings5.5 Concluding remarks; Notes; 6 Company-level evidence: liquidity and bonding; 6.1 Methods and data; 6.2 Liquidity: demand and supply side factors; 6.3 Bonding and potential drawbacks of cross-listing; 6.4 Five case studies: prizes and scandals; 6.5 Concluding remarks; Notes; 7 Market and legal development explanation: China's legal and regulatory reform; 7.1 Cross-listing driving China's legal and regulatory reform; 7.2 Chinese company and securities law reform; 7.3 Issuance system reform 7.4 Non-tradable share reform towards a market-oriented economy7.5 Concluding remarks; Notes; 8 Implications of Chinese cross-listings: market integration via dual-listing and regulatory cooperation/competition; 8.1 Alleviating the market gap by dual-listing; 8.2 Regulatory cooperation and international standards integration; 8.3 Regulatory competition: will Shanghai replace Hong Kong?; 8.4 Law and finance: what will be the future of China?; 8.5 Concluding remarks; Notes; 9 Conclusion; 9.1 Summary of key points; 9.2 Why is China different?; 9.3 Implications for future research; Notes BibliographyIndex
ISBN:	978-0-415-64277-4 ; 978-1-134-67104-5 ; 978-0-415-64277-4
Source:	ECONIS - Online Catalogue of the ZBW

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