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HK plays an irreplaceable role

By Cheung Yan-Leung | China Daily | Updated: 2012-06-29 08:09

HK plays an irreplaceable role

Hong Kong returned to China 15 years ago, and its role as an international financial hub has since then been elevated and enhanced.

The City of London Corporation has published the Global Financial Centres Index twice a year since 2007, and most of the time Hong Kong has ranked behind only New York and London.

The development of Hong Kong's stock market remains robust. The number of companies listed on the Hong Kong Stock Exchange was 1,496 in 2011, up from just 658 in 1997, representing a total market capitalization of HK$17.5 trillion ($2.26 trillion), more than five times the HK$3.2 trillion of 1997. Meanwhile, the average daily turnover increased from HK$15.5 billion in 1997 to HK$69.7 billion in 2011.

HK plays an irreplaceable role

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