(Original title: 323 H-shares have been listed on the Hong Kong Stock Exchange for 30 years. The total market value of mainland companies accounts for nearly 80% of the Hong Kong stock market)
On August 22, the Hong Kong Stock Exchange held a ceremony to celebrate the 30th anniversary of the H-share listing. It has been 30 years since Tsingtao Brewery’s H shares were listed on the Hong Kong stock market in 1993. Over the past 30 years, H-shares have always played an important role in Hong Kong stocks, laying an important foundation for the development of Hong Kong stocks, and at the same time providing an important platform for mainland companies to go global. Statistics show that as of the end of June this year, the total market value of mainland companies accounted for nearly 80% of the Hong Kong stock market, and they have become the main force in Hong Kong stocks.
H shares, also known as state-owned enterprise shares, refer to the stocks of Chinese-funded enterprises registered in the Mainland and listed in Hong Kong. On July 15, 1993, Tsingtao Brewery’s H shares were officially listed on the Hong Kong stock market, marking the official birth of H shares. In that year, Shanghai Petrochemical, Jingcheng Electromechanical, CSSC Defense, Maanshan Iron and Steel, etc. were also listed on H shares.
After the return of Hong Kong in 1997, the influence of Chinese-funded enterprises in the Hong Kong stock market gradually increased, injecting new vitality into the Hong Kong stock market. Statistics show that in 2007, H-shares accounted for more than 50% of the market value of the Hong Kong stock market, and the proportion of turnover also increased to about 60%.
On November 17, 2014, the Shanghai-Hong Kong Stock Connect was officially launched, marking the beginning of an era of interconnection between the two places. On December 5, 2016, the Shenzhen-Hong Kong Stock Connect was opened, marking a further step in the interconnection between the two places. On July 4, 2022, ETFs will be included in the Mainland and Hong Kong Connect Mechanism, which will be officially opened, and the markets of the two places will welcome the “flowing water” again.
In recent years, the Hong Kong stock market has undergone continuous reforms. On April 24, 2018, the Hong Kong Stock Exchange issued new IPO regulations, allowing companies with a dual-class share structure to go public, and allowing biotechnology companies that have not yet made a profit to go public in Hong Kong. Benefiting from this, well-known Internet companies such as Meituan, Xiaomi, and Alibaba have landed in Hong Kong stocks. In 2022, the Hong Kong Stock Exchange will establish a SPAC listing mechanism, becoming another listing place that uses the SPAC mechanism after the United States and Singapore.
According to the data of the Hong Kong Stock Exchange, as of the end of June this year, a total of 1,429 mainland Chinese companies listed on the Hong Kong stock market, including 321 H shares, 176 red chips and 932 mainland private companies. At the same time, the number of mainland Chinese companies accounted for about 54.9% of the number of companies in the Hong Kong stock market, the total market value accounted for 76.6% of the total market value of the Hong Kong stock market, and the turnover accounted for 87.10%.
Since 1993, mainland companies have raised a total of 8.18 trillion Hong Kong dollars on the Hong Kong Stock Exchange, accounting for 67% of the total, making them the main force in the Hong Kong IPO market.
According to data from the Hong Kong Stock Exchange, as of the end of July this year, the total market value of Hong Kong stocks reached 36.95 trillion Hong Kong dollars, a substantial increase of about 11.4 times compared to 2.98 trillion Hong Kong dollars at the end of 1993.
According to statistics, as of the 21st, a total of 323 H shares were listed on the Hong Kong Stock Exchange. Among them, 5 companies including Industrial and Commercial Bank of China, PetroChina, Agricultural Bank of China, Bank of China, and Construction Bank have a total market value of more than one trillion Hong Kong dollars, and the above 5 stocks are all listed on the A-share market at the same time.
At present, the vast majority of H shares are higher than A shares. As of August 20, the Hang Seng AH share premium index reached 149.22, showing that H shares as a whole are nearly 50% higher than their A shares.
It is worth mentioning that there are many local companies in Shenzhen among the H shares. According to the place of registration, there are 23 companies including BYD, China Merchants Bank, and Ping An of China. 21 years ago, BYD was listed on the main board of the Hong Kong Stock Exchange, setting a record for the highest issue price of H-share listing at that time.
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2023-08-23 00:25:00
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