Tighter scrutiny of Hong Kong IPOs could slow deal flow, analysts say
Securities regulators in Hong Kong and mainland China are doubling down on efforts to raise the quality of Hong Kong initial public offerings (IPOs), which could slow the flow of new listings but would not reduce underlying demand, according to analysts. In an unusual move, the China Securities Regulatory Commission recently asked nine mainland companies, which had already been pre-approved for…
Hong Kong's finance chief has urged Cathay Pacific Airways to maintain competitive pricing and expand its route network, as China's national development plan solidifies the city's position as a leading aviation hub. During a speech at the airline's 80th anniversary celebration, Financial Secretary Paul Chan Mo-po emphasized that Cathay is more than just a transportation provider, but an ambassador for Hong Kong that bolsters the city's status as a global aviation hub and "superconnector."
Chan stressed that each new route generates trade, investment, and economic opportunities, particularly in a volatile global environment. He detailed that Hong Kong's three-runway system, now nearly two years in operation, provides additional capacity for growth. The government is also pursuing new air service agreements and expanding traffic rights in markets such as the Middle East, Central Asia, Africa, and South America.
"As the government opens the way for wider air links, I encourage Cathay to seize these opportunities and add new destinations to your network," Chan stated, addressing Cathay Group chairman Guy Bradley and CEO Ronald Lam Siu-por. At the event, Bradley noted that the group currently offers scheduled passenger services to over 100 destinations worldwide, including 24 in mainland China, through Cathay and its low-cost carrier, HK Express.
The company aims to further expand into Belt and Road destinations, with plans to add 150 new aircraft and serve 150 destinations globally within the next decade. Chan recognized the airline's 80-year history, including challenging periods like the Covid-19 pandemic, when the government provided a HK$39 billion recapitalization package to support Cathay.
He highlighted the professionalism, perseverance, and dedication of the airline's employees, noting they transformed confidence into recovery. Chan reiterated that each new route serves as a "superconnector" by facilitating trade, investment, and opportunity, emphasizing that in an uncertain world, pursuing these opportunities with prudence and confidence is essential.
The airline's HK$150 billion investment in aircraft, cabins, lounges, and digital innovation reflects its confidence in Hong Kong's future, as the national 15th five-year plan explicitly supports Hong Kong in consolidating and enhancing its status as an international aviation hub.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
