Liquid Assets II - Industrial Relocation in Guangdong Province: Avoid Repeating Mistakes
The governments and financial regulators on both sides can discuss specific work plans through the Hong Kong-Guangdong Co-operation Joint Conference and other relevant platforms. The Expert Group on Hong Kong-Guangdong Financial Co-operation has had various exchanges on a variety of issues, and it is a stated goal to encourage more Guangdong enterprises to list in Hong Kong. Moreover, the Hong Kong and Shenzhen stock exchanges have a general agreement signed in 2009 to cooperate. 106 These various efforts can be expanded to include measures for the Hong Kong and Shenzhen stock exchanges to require listed companies and their subsidiaries to notify the exchanges of environmental violations committed within China and elsewhere. The disclosure should include all relevant details on the violations, follow-up remedial measures and penalties. The exchanges can also require companies wishing to launch Initial Public Offerings to disclose their environmental records relating to the number and nature of violations, remedial measures, penalties and liabilities.107
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