HONG KONG, June 12 (Xinhua) -- Hong Kong Exchanges and Clearing Limited (HKEX) has surged by nearly 43 times in market capitalization since going public in Hong Kong 20 years ago, the company said Friday.
As a public company, HKEX's market capitalization currently stood at 375.53 billion Hong Kong dollars (48.46 billion U.S. dollars) on Friday, up from 8.59 billion Hong Kong dollars at the end of 2000, according to an HKEX statement.
The revenue of HKEX jumped by more than six times to 16.31 billion Hong Kong dollars over the past two decades.
The Hong Kong stock market has also made enormous progress during the period. There were 2,482 listed companies on the Hong Kong exchange at the end of May 2020, with total capitalization of 33.98 trillion Hong Kong dollars, while there were 790 companies worth 4.86 trillion Hong Kong dollars at the end of 2000.
The Hong Kong exchange topped the global IPO league seven times in the past 11 years. The exchange has become the largest structured product market and the second largest biotech fund-raising center in the world. The London Metal Exchange owned by HKEX is the world's largest industrial metal market.
With closer mainland-Hong Kong financial ties, the Stock Connect has also enjoyed great popularity among investors, with the daily northbound trading at 78 billion yuan (about 11 billion U.S. dollars) on average in the first quarter of 2020, and 21.6 billion Hong Kong dollars for southbound trading.
The daily trading of Bond Connect, a program that allows overseas investors to buy mainland bonds, stood at 19.3 billion yuan also in the first quarter. Enditem