GUERNSEY has been approved as an acceptable overseas jurisdiction by the listing committee of the Hong Kong Stock Exchange.

It means companies incorporated in the island can now list on the Asian exchange and that HKSE is satisfied with the protection Guernsey companies offer shareholders.

The approval comes after more than a year of legal research, document preparation and discussions between Commerce and Employment and the HKSE.

The Guernsey and Hong Kong offices of law firm Ogier also worked closely with the department’s finance sector development unit throughout the process.

Commerce and Employment minister Deputy Carla McNulty Bauer (pictured) said the development was very timely given the increasing importance of Asian economies to the global economy.

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