Hong Kong’s stock market has operated in inclement weather for seven trading days since September 2024, generating stamp duty revenue of about HK$2.5 billion for the government, Financial Secretary Paul Chan Mo-po said.
The implementation of severe weather trading arrangements by the Hong Kong Exchanges and Clearing (0388) also helped maintain market liquidity, Chan said.
To continue enhancing the securities market, attracting issuers and boosting market efficiency, the HKEX will take forward the following measures:
- Consult the market in the first quarter on the revision of listing requirements for enterprises with weighted voting right structures, facilitation of the secondary listing of overseas issuers, enhancement of the initial public offering process, and provision of greater flexibility for biotechnology and specialist technology companies applying for listing.
- Implement the enhanced structured product listing framework and put forward specific implementation proposals for the settlement cycle of T+1 for market consultation in the first half of this year.
- take forward board lot reforms in the securities market and launch the uncertificated securities market regime in collaboration with the Securities and Futures Commission (SFC) and the industry this year.
The city will also introduce the next stage of reforms, including enhancing the regulatory regime for listed companies, providing specific guidelines for overseas companies seeking secondary listing in Hong Kong, offering more overseas markets as recognised exchanges, and continuing to explore with the market the provision of an over‑the‑counter trading platform for delisted stocks or those requiring special handling, Chan said.
