Published: 19:28, July 26, 2023 | Updated: 20:33, July 26, 2023
HKEX signs MoU with Indonesian counterpart
By Li Xiaoyun in Hong Kong

This file photo dated July 31, 2021 shows the statues on the square of Hong Kong Exchanges and Clearing Limited (HKEX) in south China's Hong Kong. (PHOTO / XINHUA)

The Hong Kong Stock Exchange signed a memorandum of understanding with the Indonesia Stock Exchange (IDX) on Wednesday, with aims to explore cooperation opportunities in strategic fields and jointly promote the development of financial markets.

The MoU, signed during the visit to Southeast Asia of a high-level delegation from Hong Kong, led by the Chief Executive John Lee Ka-chiu, is expected to facilitate cooperation between HKEX and IDX in cross-border listings, product development, and promoting environmental, social and governance, and sustainable finance in Asia.

Lee and Indonesia’s vice minister of trade Jerry Sambuaga witnessed the exchange of the MOU at a Hong Kong-Indonesia business event

Signing the MoU will help further strengthen connectivity between Hong Kong and Southeast Asian countries, as Hong Kong and Indonesia are among the most rapidly developing and opportunity-rich markets in the region, said HKEX Chief Executive Officer Nicolas Aguzin.

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“HKEX is the home of Asia’s most vibrant international marketplace, offering exclusive connectivity to the Chinese mainland’s onshore markets, while the IDX sits at the heart of one of the region’s most innovative economies, known for its talent, creativity and new economy pioneers,” Aguzin said.  

Given the respective strengths, he expressed his expectation of working with the IDX to promote continued cooperation between the two markets and build bridges for capital and opportunities between the two sides.

IDX President Director Iman Rachman said that the cooperation with the HKEX was speeded up in a bid to enhance the global position of Indonesia’s capital market, as Hong Kong is one of the world’s leading international financial centers.

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He added that through the MoU, the two sides will continue to work together closely on expanding opportunities and developing new products to achieve common goals.

Lee and Indonesia’s vice minister of trade Jerry Sambuaga witnessed the exchange of the MOU at a Hong Kong-Indonesia business event during the Hong Kong delegation’s visit.

The delegation, which paid a three-day visit to Singapore before arriving in Indonesia on Tuesday, will land in Kuala Lumpur, the capital of Malaysia, on Thursday. Delegates will return to Hong Kong on Saturday.


Contact the writer at irisli@chinadailyhk.com