Strategic Highlights
- Hong Kong’s initial public offering (IPO) market ranked first globally by number of IPOs in Q11 2020 (39 new company listings) and fourth globally by IPO funds raised ($14.4 billion)
- Southbound Trading Investor Identification Regime was successfully rolled out on 13 January 2020, facilitating enhanced orderly operation and regulation of Stock Connect
- Bond Connect ADT reached a record quarterly high of RMB19.3 billion, more than triple that of Q1 2019
- Cash Market Volatility Control Mechanism (VCM) Phase 1 enhancement, covering expanded VCM stock coverage and tiered triggering thresholds, will be launched on 11 May 2020
- HKEX welcomed its first Iron Ore Futures Exchange Traded Fund (ETF) in March, another important step in building a diverse ETF ecosystem in Hong Kong
- HKEX is working closely with the HKSAR Government to introduce stamp duty waiver on stock transfers paid by ETF Market Makers when creating and redeeming ETF units, as proposed in the 2020-21 Budget delivered by the Hong Kong Financial Secretary in February
- A number of further initiatives and innovations during the quarter were implemented including the introduction of a virtual IPO ceremony option for newly listed issuers; and HKEX’s elevation to World Economic Forum Strategic Partner
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