The capital market has been a body of individual, whether incorporated or not, constituted for the purpose of assisting, regulating or controlling the business of buying, selling, or dealing in securities. This case is explain the China Mobile overcame the financing constraints imposed by a relatively small and illiquid Hong Kong capital market and raised $8.24 billion by simultaneously selling equity and bonds through several different exchanges, including Hong Kong and New York, to a broad range of international investors. As we saw, China Mobile also lists its shares on the New York Stock Exchange in addition to the Hong Kong Stock Exchange. By successfully tapping into the large and liquid global capital market, the Hong Kong–based company was able to raise more funds than initially planned and lower its cost of capital.