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Russian authorities to motivate Russian companies list shares on Hong Kong Stock Exchange

September 21, 2014, 19:50 UTC+3 HONG KONG

Valentina Matviyenko, the speaker of the Federation Council (upper house of the Russian parliament) said on Sunday

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Valentina Matviyenko

Valentina Matviyenko

© ITAR-TASS/Pavel Smertin

HONG KONG, September 21. /ITAR-TASS/. Russia’s authorities will take measures to motivate Russian companies to list their shares on the Hong Kong Stock Exchange, Valentina Matviyenko, the speaker of the Federation Council /upper house of the Russian parliament/ said on Sunday.

“The thing is that Hong Kong is regulated by the British legal system, which practically the same as in London, but the advantage of the Hong Kong system is that it is not politicized,” she told journalists, commenting on her visit to Hong Kong /Xianggang/ Special Administrative Region of the People's Republic of China. “Hong Kong is absolutely neutral and is interested in developing its own territory, so in this sense is interesting for Russian businesses.”

Matviyenko stressed that interest to China’s Special Administrative Region Hong Kong was growing not only in Russia’s political circles and executive structures, but among ordinary people too. “Hong Kong is attractive as an acclaimed global business centre, more to it, it is a place where Chinese traditions meet with the West,” she noted.

She also drew attention to the fact that trade between Russia and Hong Kong was growing year after year. “Our trade has exceeded three billion U.S. dollars,” she added.

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