Technology Start-Ups: Neighbor Shenzhen

technology start-ups: We welcome all new policies that benefit our market in the long term, Qian Jie, assistant vice president of corporate communications of the Hong Kong Exchanges and Clearing HKEX told the Global Times, according to Global Times China. China released a guideline on August 18 that aims to build Shenzhen into a pilot demonstration area of socialism with Chinese characteristics. But they warned that if riots persist in the HKSAR, the city may lose its glamour and yield some key financial services to its rising neighbor Shenzhen in such sectors as fundraising for technology start-ups and the internationalization of the yuan. Under the plan, one key focus will be the local financial markets and technological innovation. Shenzhen is home to a number of vibrant technology start-ups that need financing This means a great opportunity for Hong Kong, not only in terms of retaining and propelling the prosperity of Hong Kong's capital market but also in optimizing the asset portfolio of Hong Kong international investors, Qi Mingyang, chairman of Shenzhen-based asset management firm Fortune Valley Capital Investment Group, told the Global Times on Tuesday. The government will promote connectivity among the financial markets of Shenzhen, the HKSAR and the Macao SAR, such as stock connect programs and bond connect programs, and support financial products and funds' mutual recognition. (news.financializer.com). As reported in the news.