Chinese Companies and the Hong Kong Stock Market

By Flora Xiao Huang, Horace Yeung

© 2014 – Routledge

266 pages | 3 B/W Illus.

Purchasing Options:
Hardback: 9780415642774
pub: 2013-10-04
US Dollars$160.00
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About the Book

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 mainland China, in order to develop and open up China’s domestic capital markets.

Table of Contents

1. Introduction 2. Theoretical Foundations 3. Stock Market Development in China and Hong Kong 4. Weak and Strong Stock Markets: A comparison of securities regulation and enforcement between China and Hong Kong 5. Chinese Cross-listings in Hong Kong: Procedures and requirements 6. Company Level Evidence: Liquidity and bonding 7. Market and Institutional Legal Development Explanation: China’s legal and regulatory reform 8. Implications of Chinese Cross-listing: Market integration via dual listing and regulatory cooperation/competition 9. Conclusion

About the Authors

Flora Xiao Huang is a Lecturer in Commercial Law at the University of Leicester, UK.

Horace Yeung is a Lecturer in Commercial Law at the University of Leicester, UK.

About the Series

Routledge Economic Growth and Development Series

The aim of the series is to publish a series of books that applies rigorous economic analysis to the field of economic growth and development. The scope will include regional and country-specific studies, as well as cross-country comparisons, to examine the evidence surrounding the pressing and interesting questions on the growth prospects of developed and developing countries.

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Subject Categories

BISAC Subject Codes/Headings:
SOC008000
SOCIAL SCIENCE / Ethnic Studies / General