【明報專訊】Alibaba, currently maintaining a secondary listing in Hong Kong, is seeking to change its listing status on the Main Board of the Hong Kong Stock Exchange to "primary", which is expected to take effect before the end of this year. As the White House has launched a financial war against China, "China Concept Stocks" now listed in the US may be forced to delist in 2024. Securing a secondary listing in Hong Kong comes with the benefit of looser regulations, but the status does not qualify these stocks for Hong Kong's "Stock Connect", meaning that they will not be able to attract capital from the mainland. In contrast, having a "dual primary listing" in Hong Kong and the US at the same time can not only "insure against" the risk of delisting in the US, but also allows Alibaba to be included in the Mainland-Hong Kong Stock Connect programme, thus broadening the investor base. It is expected that more China Concept Stocks will follow Alibaba's example to pursue a dual primary listing later, which will of course be a good thing, as it will help consolidate Hong Kong's position as an international financial centre. An open market, a sound legal and regulatory system form the basis for winning the trust of international investors. The central government has emphasised the need of maintaining Hong Kong's unique status and advantages. The SAR government should seize this opportunity to enhance Hong Kong's financial competitiveness.