We seek to develop Hong Kong as an international premier listing platform through a multi-pronged approach, with an emphasis on enhancing liquidity, embracing the new economy, improving market quality, strengthening mutual market access with the Mainland, and going global.
Hong Kong has a highly open and internationalised market, a regulatory regime aligned with major overseas markets, the rule of law, a simple and low tax system, a rich pool of professional talents, a robust infrastructure, and the free flow of information and capital. All these allow Hong Kong to be a place to carry out global operations and an attractive platform for listing.
Hong Kong is an active market for raising Initial Public Offering (IPO) funds. In 2023, Hong Kong raised a total of HK$46.3 billion (US$5.9 billion) of funds through initial public offering (“IPO”), and continues to be one of the premier fundraising hubs around the globe.
While we remain a very popular fundraising venue for different enterprises, we continue to strive to develop Hong Kong into a deeper and broader fundraising platform. Since April 2018, we have implemented a new listing regime to facilitate the listing of companies from the emerging and innovative sector, including (i) pre-revenue / pre-profit biotechnology companies; (ii) companies with weighted voting rights structures; and (iii) qualifying companies seeking a secondary listing in Hong Kong. Since January 2022, we have further launched two reforms to the listing regime, including the introduction of a new listing route for Special Purpose Acquisition Companies (SPAC) and enhancements to the regime for listing of overseas issuers. In 2023 and 2024, in conjunction with regulators and Hong Kong Exchanges and Clearing Limited (HKEX), we have implemented an array of measures, including establishing the listing regime for specialist technology companies and the Hong Kong Dollar – Renminbi Dual Counter securities model and reforming GEM (the board targeting small and medium enterprises), with a view to comprehensively strengthening the competitiveness of Hong Kong as an all-rounded international fundraising hub.
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