Trash talk: HKEx blasts back in new board spat

Charles Li has strong words for critics of reform proposal intended to lure new economy issuers to Hong Kong. He says an action plan will likely be released within weeks
Photo source: Reuters Newsmaker
Photo source: Reuters Newsmaker

A proposal by Hong Kong Exchanges Clearing to set up a new board open to issuers that stray from the one share, one vote structure has sparked feisty debate and some harsh criticism among the city's investors, lawyers, bankers and other market participants.

It's been dubbed a potential trash board and likened to the Wild West by observers who fear that Hong Kong lacks the shareholder protections found in other territories where such structures are popular, notably the United States.

But HKEx chief executive Charles Li painted a different picture when he gave a preliminary picture of the results of a public consultation that ended on...

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