Chapter 4
Financial and Monetary Affairs
Hong Kong ranks among the world's top financial centres, thanks to its robust regulatory framework and extensive network with other major financial centres as well as fast-growing economies in the region, particularly the mainland of China. Hong Kong was ranked first among 62 of the world's leading financial systems and capital markets for the second consecutive year in the World Economic Forum's Financial Development Report 2012. The stock market remained in the top five globally in terms of funds raised through initial public offerings in 2012. The financial sector has a 230,400-strong workforce, or 6.1 per cent of the city's total workforce, and contributes 16.1 per cent of the city's Gross Domestic Product.
Hong Kong is a vibrant global financial centre invigorated by a sophisticated financial infrastructure, world-class financial professionals, high liquidity and efficiency. The Government aims to develop the financial system in line with international standards and provide an open, fair and orderly operating environment for market participants, striking a reasonable balance between market development and investor protection.
Hong Kong recorded a number of major achievements in 2012. These included:
Chart 1
HK$ Billion
500
400
300
200
100
of
2008
66
Equity Funds Raised Through IPOs
248
449
260
90
2009
2010
Year
2011
2012
The Stock Exchange of Hong Kong Limited (SEHK) has been among the top five global initial public offering (IPO) listing markets for the past 10 years, ranking first from 2009 to 2011. In 2012, $90 billion were
raised.
Chart 2
Total Equity Funds Raised in Hong Kong
1,000
800
859
HK$ Billion
600
642
400
427
490
305
200
0
2008
2009
2010
Year
2011
59
2012
Despite the volatile external backdrop, the SEHK was ranked fifth in the world and third in Asia in terms of total equity funds raised, totalling $305.4 billion in 2012.
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