Li Xiaojia once said that "the mainland stock market is the safest in the world."

Financial News

Written by: Lin Leqian

2020-05-07 17:27

Hong Kong Stock Exchange (0388) Chief Executive Officer Li Xiaojia announced that he today informed the Board of Directors that after the expiry of the current contract at the end of October 2021, the Group ’s Chief Executive Officer contract will not be renewed. Li Xiaojia served as the chief executive officer of the Hong Kong Stock Exchange for ten years, during which he concocted many "golden sentences". For example, he once described "the mainland stock market as the safest market in the world", which is impressive.

Li Xiaojia has more than 20 years of experience in the financial industry. After taking the role of chief executive officer, he has promoted a number of strategies, including vigorously promoting the interconnection of the China and Hong Kong securities markets. In 2014 and 2016, respectively, through the "Shanghai-Hong Kong Stock Connect" and "Shenzhen "Hong Kong Connect" and other measures.

He also acquired the London Metal Exchange (LME) for nearly 1.4 billion pounds in 2012, established an over-the-counter settlement company in 2013, and expanded the Hong Kong Stock Exchange's business into fixed-income products, currencies and commodities. Last year, "Shoot" acquired the London Stock Exchange (LSE) for 29.6 billion pounds, and ended up without the support of the LSE shareholders and the board of directors.

Mainland stock market

Li Xiaojia has been serving as the chief executive for ten years, and he has burst out a number of golden sentences that caused public debate. For example, in 2015, the mainland stock market had a violent diarrhea. Li Xiaojia said at a public event, "The mainland stock market is the safest in the world. Market ".

Anti-revision incident

In June last year, a demonstration of "anti-revision" broke out in Hong Kong. In August of the same year, Li Xiaojia commented on the situation in Hong Kong, saying that he hoped that "Hong Kong people ruling Hong Kong" and did not want to see "Hong Kong people chaos Hong Kong", and explained, "Bashing and rushing" 1. Recourse to violence is chaos in Hong Kong, peaceful marches express opinions rather than chaos in Hong Kong.

He also pointed out that "violence will always bring our dreams further and further", "Enough, time to think". At that time, there were rumours that the People's Liberation Army would intervene in the demonstration. He said that the law and order of Hong Kong should be resolved by the police force.

At a public event, Li Xiaojia said, "The mainland stock market is the safest market in the world." (Profile picture)

"One country" and "two systems" are indispensable

Hong Kong people are concerned about the "Article 23" of the Basic Law, and they are also worried about the "one country, two systems" misshapen. When Li Xiaojia attended the annual dinner of the London Metal Exchange in the UK in November last year, he described "fundamental flaws" at the beginning of the implementation of "one country, two systems".

Later, he clarified that he was not criticizing one country, two systems, but believed that at the beginning of the implementation of the system, the protection of "one country" and the implementation of "two systems" should be carried out together. If the Basic Law "Article 23" legislation cannot be implemented, the central government will definitely elect Hong Kong lack of trust.

In January of this year, he even published a blog post, bluntly saying that one country, two systems are the guarantee of Hong Kong ’s success. "One country" and "two systems" complement each other and are indispensable. "If Hong Kong people do not soberly recognize, they will abandon themselves and go to the end; If friends in the Mainland do n’t wake up, they might be emotionally involved and spill their children with the bath water. "

When Li Xiaojia attended the annual dinner of the London Metal Exchange in the UK, he described the "fundamental flaws" at the beginning of the implementation of "one country, two systems". (Profile picture)

Sino-US trade war

In October 2018, the Sino-US trade war was in full swing. Li Xiaojia used marriage as a metaphor for Sino-US relations, referring to the couple entering the "seven-year itch." The relationship between the two countries is not only related to the destiny and the two countries. The interests of the Chinese people also affect the well-being of other countries and future generations of the world. The two parties should not casually say that they are divorced.

The Hong Kong Stock Exchange abandoned the London Stock Exchange

In October 2019, the Hong Kong Stock Exchange planned to acquire the London Stock Exchange, describing it as "London Century Marriage" and "Romeo and Juliet". After being rejected, he said that "the people are engaged before, we propose marriage Afterwards, there must be a response and can understand. We come a little late and we must continue to work hard. "

interconnection

During Li Xiaojia's tenure, one of the most iconic tasks was the implementation of the "interconnection" between South and North funds. After the launch of the Shanghai-Shenzhen-Hong Kong Stock Connect, Li Xiaojia has been interviewed many times, all of which use the "bridge builder" as a metaphor for his role in "interconnection". He bluntly does not care much about the trading performance of the Shanghai-Hong Kong Stock Connect.

Only in April 2018, the Hong Kong Stock Exchange revised the listing regulations. Alibaba went to Hong Kong for the second listing. Li Xiaojia said bluntly, "In the past (Chinese stocks) there were many reasons for not returning, and there is no reason not to return now. "(Profile picture)

Talk about different rights of the same stock

In April 2014, the Hong Kong Stock Exchange refused to list Alibaba ’s listing in Hong Kong because the Hong Kong Stock Exchange did not allow the same stocks to have different rights. Until April 2018, the Hong Kong Stock Exchange revised the listing regulations and gave a green light to the same stocks with different rights. Xiaomi Group (1810) Became the first company listed in Hong Kong in this way, and the latecomers include Meituan (3690) and Alibaba, which went to Hong Kong for the second listing recently.

Market participants have believed that the return of Chinese stocks will become a market trend. Li Xiaojia said bluntly, "In the past (Chinese stocks) there were many reasons for not returning, and now there is no reason not to return."

Reduction of the Hong Kong Stock Exchange

In January 2020, he reduced his shareholding in the Hong Kong Stock Exchange for the first time in nearly 10 years since he took office. He cashed out more than 160 million yuan. He talked about the timely excuse that his wife suggested that he do so, and called her "the other chairman of the family."

New Coronary Pneumonia Outbreak

In February 2020, he pointed to the active trading activities in the Hong Kong market under the epidemic, and said that "to be able to experience" this kind of thing "once or twice in a lifetime is a precious experience in life."

Li Xiaojia will leave the Hong Kong Stock Exchange to call the past 10 years the most exciting and meaningful day in his life

[Responses from all walks of life] Li Xiaojia's non-renewal of the securities sector next year is not related to the failure of the merger and acquisition of the London Stock Exchange.

Li Xiaojia: No more re-appointment as chief executive of the Hong Kong Stock Exchange after the contract expires in October next year

The government praises Li Xiaojia for playing an important role in interconnection

Bruce Lee Stock Exchange