The chief executive of Hong Kong Exchanges and Clearing (HKEX), Bonnie Chan, on Tuesday said the city's bourse operator will invest more in technology to help investors better access the market as more funds flow to China.
She made the remark at a breakfast panel during the 19th Asian Financial Forum, where she said there is a common feeling in the global capital market that China is becoming more "investable".
"Two years ago, I was still arguing with people whether China is investable or not investable. I think there is now an agreement of minds that the exposure to China needs to be increased," she said.
"Everyone needs to go from 'underweight' to at least an 'equal weighting'," she said, adding that Hong Kong's vibrant initial public offering market also shows that interest is strong.
To better capture the momentum, the finance veteran said HKEX will seek to offer a wider range of financial products, and will ramp up its operational efficiency by incorporating more advanced technologies.
"Every time when I'm in a conversation, people ask me about three things: stablecoins, tokenisation and 24-hour trading. There's no escape from those three topics," she told participants, as she reviewed her latest visit to the "Davos Summit".
"My take is that basically, what people are asking is how do I make sure that operationally I make all the improvements so that investors can be assured of the execution, certainty, and speed.
"They can get more accessibility to our markets, and are not confined to a very narrow set of trading hours. We'll continue investing on the technology side of things to make sure that we stay on top of the game," she said.
Separately, Jerry Zhang, global head of banks and broker dealers at Standard Chartered, said at the same panel that Hong Kong can be a global hub for promoting the internationalisation of the renminbi, which is gaining traction in the global market.
Her comment came after the People's Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) doubled yuan funding under a swap facility to 200 billion, amid rising demand from local lenders.
"This is a very interesting development that is helping to broaden the usage of renminbi - from more than just a settlement currency to a financing currency," Zhang said.
"For example, Standard Chartered-affiliates [can] offer a renminbi financing facility to corporates operating outside of Hong Kong in other regions, which is very important to position Hong Kong as the international centre for renminbi internalisation," she added.
Launched last October, the RMB Business Facility offers banks cheap and stable yuan funding so they can provide loans to global clients.
The expansion of the funds came after the initial quota of 100 billion was fully allocated to 40 participating banks, according to the HKMA.


