Bonnie Y Chan took over as the CEO of Hong Kong Exchanges and Clearing Ltd on March 1. (PHOTO COURTESY OF HKEX)

HONG KONG – The new chief of Hong Kong Exchanges and Clearing Ltd has expressed her optimism over the city’s status as an international financial center, saying that she has seen positive signals from the number of initial public offerings this year.

Bonnie Y Chan told reporters on Friday that Hong Kong enjoys many advantages in areas including financial management, rule of law, tax systems and talents, and is backed up by the whole Chinese economy, adding that she is very optimistic about Hong Kong's future.

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Chan, who took over as the HKEX CEO on March 1, said the Hong Kong Stock Exchange has received about 30 new IPO applications so far this year, which is a positive signal for the market. 

As interest rates might go down in the second half of the year, market situation would even get better, she said.

People walk past Exchange Square, which houses the Hong Kong Stock Exchange, in Central, Hong Kong, Jan 5, 2024. (SHAMIM ASHRAF / CHINA DAILY)

Speaking of the stock market in recent days, Chan said that Hong Kong's financial strength cannot only be assessed by short-term fluctuations in the capital market, and its other financial sectors, including banking, insurance and asset management, are all world-class.

Opportunities for the Exchange's growth come from continued growth of China's economy, capital raising and trade demand from the Middle East and Southeast Asian countries, and the growth potential brought by technological innovation, she said.

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The Exchange would continue to innovate, improve financial market infrastructure, and expand its products and clients, she added.