Hong Kong stock market regulators have approached some overseas-listed Chinese firms eyeing floating shares in the financial hub to provide guidance and support, according to the Chinese state-owned newspaper Securities Times.
Hong Kong Exchanges and Clearing (0388) and the Securities and Futures Commission have engaged with some of these companies under the direction of the SAR government, the report said.
It quoted a spokesperson for the Financial Services and the Treasury Bureau that a total of 33 China-concept stocks have been listed in Hong Kong since the listing rules reform in 2018.
The SFC and the HKEX are conducting a comprehensive review of the listing regime in reviewing listing requirements and post-listing ongoing obligations, evaluating listing-related regulations and arrangements to improve the vetting process, optimizing the thresholds for dual primary listing and secondary listing, and reviewing the market structure.
Through the reform, the government hopes to better align with the latest economic trends and corporate needs, enhance the competitiveness of Hong Kong's listing platform and further attract different companies to raise funds in Hong Kong, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said.
The review also aims to attract more investors, especially patient capital and overseas long-term investors, to participate and increase their allocation of Hong Kong stocks, Hui noted.
STAFF REPORTER
