Xiaomi, the gadget maker, announced Thursday that it would list in Hong Kong, the first company to do so following the rule changes. Until last week, Hong Kong, which has stricter rules than New York, had not allowed such listings. “There is no question that Hong Kong is under tremendous competitive pressure,” Richard Li, the Hong Kong stock exchange’s chief executive, wrote in a blog post following the decision. “At the end of the day, the Hong Kong stock market is going to be creeping slowly toward Chinese-style regulation,” he added. Despite the criticism about corporate governance in Hong Kong, its rules remain stricter than New York — for now.

Source: thestar May 04, 2018 15:56 UTC