CHRISTOPHER HUI STARTS INDONESIA VISIT

Secretary for Financial Services & the Treasury Christopher Hui today started his visit to Jakarta, Indonesia by meeting financial officials and industry leaders to strengthen financial co-operation between Hong Kong and Indonesia.

At his meeting with Indonesian Ministry of the State-Owned Enterprises Vice Minister Dony Oskaria, Mr Hui updated him on the various measures put forward in the Chief Executive's 2024 Policy Address to explore new growth areas and forge deeper ties with the region of the Association of Southeast Asian Nations.

Mr Hui welcomed Indonesian state-owned enterprises and high-quality innovative companies to take advantage of Hong Kong's internationalised fundraising platform for business growth and development.

The treasury chief also visited the Indonesia Stock Exchange (IDX) and had a meeting with its President Director Iman Rachman. The IDX has been included on the list of Recognised Stock Exchanges by the Hong Kong Exchanges & Clearing (HKEX) since November last year.

Highlighting that the market capitalisation of companies listed on the HKEX has recently reached some $35,000 billion - ranked seventh in the world and fourth in Asia - Mr Hui encouraged Indonesian companies with a primary listing on the IDX's main market to seek a secondary listing in Hong Kong to connect with regional and global investors via Hong Kong's vibrant stock market.

They also discussed green finance and opportunities for the IDX to leverage the HKEX, which is the world's only carbon market to offer Hong Kong dollar and renminbi (RMB) settlement for trading of international voluntary carbon credits, to accommodate the needs of carbon trading in Indonesia.

Mr Hui had a lunch meeting with Indonesian Chinese Entrepreneur Association (PERPIT) President Abdul Alek Soelystio to update him on Hong Kong's strengths as the world's largest offshore RMB business hub, having strong connectivity with the Mainland capital market.

At a dinner meeting with Indonesian Employers' Association Chairwoman Shinta Widjaja Kamdani, Mr Hui updated her on the investment environment in Hong Kong, in particular the opportunities arising from a series of upcoming measures to facilitate management of global capital in Hong Kong.

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