The Securities and Futures Commission (SFC) welcomes the measures proposed by the Financial Secretary, Mr Paul Chan, in the government’s 2025-2026 budget to further enhance Hong Kong’s competitive edge as an international financial centre.
"The measures outlined by the Financial Secretary would further advance Hong Kong’s securities and derivatives markets and reinforce its position as an asset and wealth management hub," said the SFC’s Chairman Dr Kelvin Wong.
The SFC is encouraged that the Hong Kong Exchanges and Clearing Limited (HKEX) is actively taking forward the establishment of a dedicated "technology enterprises channel" to facilitate specialist technology and biotechnology companies in preparing their listing applications. In this connection, the SFC will work closely with, and support, HKEX in the operation of such channel in order to enable a smoother application process.
The SFC will also work closely with HKEX and other stakeholders to further refine the listing regime. To this end, there will be a review of listing requirements and post-listing ongoing obligations, an evaluation of listing-related regulations and arrangements to improve the vetting process, a study to optimise the thresholds for dual primary listing and secondary listing and a review of the market structure, including exploring the establishment of a post-delisting over-the-counter trading mechanism.
To meet the risk management needs of investors, the SFC will soon consult the market on the proposal to increase the position limits for key exchange-traded index derivatives.
Leveraging on Hong Kong’s advantages in RMB bonds to develop Hong Kong as a fixed income and currency hub, the SFC will continue with works undertaken by a task force set up with the Hong Kong Monetary Authority to formulate a roadmap, covering the development of primary and secondary bond markets and foreign exchange markets, as well as infrastructural enhancement. In addition, a flagship forum will be staged in the second half of this year to showcase Hong Kong's strengths in this area.
The SFC’s Chief Executive Officer Ms Julia Leung said: "We are working closely with peer regulators and counterparts to enhance Hong Kong as a fixed income and currency hub, foster virtual asset market development, as well as deepen connectivity with the Mainland and overseas markets."
The SFC also welcomes the government’s plan to issue a second policy statement on, among others, harnessing the advantages of traditional financial services and innovative technologies in virtual assets. Following the publication of a regulatory roadmap for Hong Kong’s virtual asset market in mid-February, the SFC will continue to provide guidance to ensure a healthy, orderly and sustainable development of the fintech ecosystem.
