Successfully Boosting Technology and Capital in Shaanxi
Xi'an, CHINA, Jun 13, 2018 - (ACN Newswire) - Chinlink International Holdings Limited ("Chinlink", HKSE Stock Code: 0997) and its subsidiaries (collectively the "Group") are pleased to announce the success of the 2nd Shaanxi-Hong Kong Financial Cooperation Forum (the "Forum"), organised by the Shaanxi Provincial Department of Commerce, Financial Affairs Office of Shaanxi Province and Shaanxi Liaison Unit of The Hong Kong Special Administrative Region Government with Chinlink as the co-organiser. The forum brought more than 260 guests together, ranging from the government of Shaanxi Province and Hong Kong, the Hong Kong Stock Exchange, to guests from Hong Kong and overseas including leading legal and accounting firms specialising in corporate finance, top executives of new economy and technology companies and international financial institutions. The attendees discussed ways to deepen the financial cooperation between Hong Kong and Shaanxi, and the opportunities arising from Shaanxi resurging as a global technology hub.
Mr. Xue Jiangxing, Deputy Secretary-General of the People's Government of Shaanxi Province addressed, Shaanxi will further open up the financial sector and strengthen its innovation on the financial system in the China (Shaanxi) Pilot Free Trade Zone. It may lower or even eliminate barriers for foreign players in particular with banks, security firms, and insurance companies, so as to attract foreign capitals to enter the financial sector. Mr. Xue also asserted Shaanxi's leeway to the eligible companies seeking IPO in Hong Kong. Mr. Xue expressed his support to facilitate the financial cooperation between Hong Kong and Shaanxi in promoting local technology companies. He believes that such arrangement will help introduce advanced and mature international capital market knowledge to China, thus connecting Shaanxi new technologies with global capital. He also fully affirmed that the Forum would continue to provide a diversified exchange platform in bridging local enterprises with international capital in the future.
In recent years, Xi'an has been actively promoting the commercialisation of its locally-developed technologies by rolling out multiple favourable policies and creating a RMB100-billion industry fund to boost hard technological development. Xi'an realises hard technologies as a new driver in promoting economic growth, technological advancement and influx of capital and industries, representing great potential in transforming Xi'an into the model city of innovation. Propelled by the favourable policies, numerous Xian-based technology companies have emerged as valuable unicorns of respective industries and thus are well-received by the capital market.
Considering technology companies' different fundraising needs throughout their various development stages, Chinlink invited experts from corporate finance, professional firms, and venture funds to help attendees understand what the best way to raise international capital is. Many guests expressed that they benefitted from the discussions, while investors learned about investment opportunities in Shaanxi science and technology enterprises.
Mr. Franky Chung, Senior Vice President of Issuer Services from HKEx was one the guest speakers, who gave a presentation on new listing reforms in Hong Kong for the benefit of tech companies. He said that the Stock Connect has significantly lifted the trade volume of Hong Kong stock market in the past year. it would be favourable to the valuation of the Hong Kong listed companies in the long run as increasing number of Mainland fund houses strategically allocate assets on Hong Kong listed companies via the Stock Connect, infusing catalysts to the Hong Kong stock markets. He also expected more Shaanxi companies become eligible to leverage the international fundraising platform of Hong Kong under the latest listing rule framework.
Mr. Li Weibin, the Chairman and Managing Director of Chinlink, said, "Based in Shaanxi with established presence in Hong Kong and expanding around the world, Chinlink has developed ample resources and expertise on the international and Hong Kong capital markets. In light of the sharing economy, we aim at leveraging on our competitive advantages to position ourselves as a platform in bridging Hong Kong and Shaanxi financial market. We are dedicated to connect Shaanxi local enterprises with the well-established Hong Kong capital market, thus promoting the economic growth and development in both Hong Kong and Shaanxi. We are honoured to launch this year's Forum together with the governments, and we are determined to turn this into a sustainable platform. To further our contribution on the closer cooperation of finance and the capital markets between Hong Kong and Shaanxi, upon the completion of the Chinlink International Centre in the near future which forms the permanent venue for holding regular financial seminars, Xi'an companies will definitely have more convenience access to international capital."
About Chinlink International Holdings Limited
Chinlink International Holdings Limited is a listed company on the Main Board of Hong Kong Stock Exchange (Stock Code: 0997). Chinlink provides financial services such as investment bank, financing guarantee, finance leasing, supply chain financing and money lending to China and Hong Kong enterprises. The Company also invests and operates large-scale trade logistics park, warehouses, wholesale retail shopping mall and commercial buildings. For more information, please visit www.chinlinkint.com.
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