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There are many kinds of derivatives in Hong Kong market, which can be divided into five categories: stock index derivatives, stock derivatives, foreign exchange derivatives, interest rate derivatives and warrants. Almost all funds incorporated in Hong Kong are open-end funds. For investors, they can get their money back at any time, which has good liquidity and is particularly attractive to overseas investors. According to the classification of the Hong Kong Monetary Authority, the bond market in Hong Kong can be divided into two categories: the RMB bond market issued and traded in Hong Kong and the foreign currency bond market. Among them, exchange fund bonds and bond issuance plan bonds are the most representative in the Hong Kong dollar bond market, and long bonds are the most representative in the foreign currency bond market. Relying on the rapid development of the mainland economy, Hong Kong has become the fastest-growing international financial center in Asia. The scale of HKEx has expanded rapidly, and its ranking in global exchanges has been continuously improved.
State-owned shares refer to Chinese mainland state-owned enterprises that have been approved to go public in Hong Kong. It can also be called H shares, which refers to the state-owned shares listed in Hong Kong. There are also N shares and S shares in the Mainland, which are short for state-owned enterprises listed in new york and Singapore respectively. In this way, both state-owned enterprises and red chips are mainland enterprises listed in Hong Kong. What's the difference between them? It can be said that because state-owned shares and red chips have the same strong mainland color, they are both mainland companies listed in Hong Kong, and their main business is very close to that of the mainland, so novices who have no in-depth understanding of the Hong Kong stock market are very easily confused. However, it is not so difficult to distinguish the two. To put it simply, those registered in Hong Kong will be classified as red chips, while those registered in the Mainland will naturally be state-owned shares. In fact, most of the red chips are window enterprises registered in Hongkong by China provinces and cities and the central government, and the state-owned enterprises are generally those rooted in China. With the acceleration of the reform and opening-up of state-owned enterprises, the continuous improvement of the macro-economy in the Mainland and the imminent implementation of policies such as QD II Agreement and CEPA, it can be predicted that in the foreseeable future, state-owned shares will replace the dominant position of conventional blue-chip stocks in the Hong Kong stock market.