HONG KONG, March 17 Hong Kong's stock exchange
needs to find ways to be more competitive as a listing venue for
technology companies, without rushing into any decisions, the
head of the exchange operator said on Monday, a day after
Chinese e-commerce giant Alibaba Group Holding Ltd said it will
list shares in the United States.
Hong Kong Exchanges and Clearing (HKEx) respects
Alibaba's decision and wishes the company well, chief executive
Charles Li said in a statement.
Alibaba's move to hold a U.S. initial public offering is a
blow to the HKEx, which was initially the company's preferred
listing venue for the deal.
"We have to consider possible changes where they might be
necessary, with everything according to our due process," Li
said in the statement. "The Listing Committee's work on
shareholding structures didn't start because of Alibaba and will
not end now because of Alibaba."