FACTBOX-Major finance milestones as Hong Kong marks 25 years since handover ...Middle East

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FACTBOX-Major finance milestones as Hong Kong marks 25 years since handover
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Hong Kong returned to China in 1997 after 156 years of British colonial rule. Here are some major milestones for the city's financial markets: HONG KONG DOLLAR TRADING BAND The Hong Kong dollar was pegged to the U.S. dollar on October 17, 1983, with a trading band of between 7.75 and 7.85 per US dollar imposed since 2005. The Hong Kong Monetary Authority (HKMA), the city's de-facto central bank, regularly enters the market to buy or sell the currency to keep it within the band. DUAL HONG KONG AND MAINLAND LISTINGS Industrial and Commercial Bank of China became the first company to execute an IPO simultaneously in Shanghai and Hong Kong in 2006 when it issued A-shares and H-shares to raise US

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