Policy Address

Continuously Strengthen the Stock Market

92. The Hong Kong stock market has maintained its strong momentum. The Hang Seng Index has risen by over 20% year-to-date, while the average daily turnover has reached $250 billion, nearly double that of last year. At the end of August, the cumulative amount of funds raised through IPOs exceeded $130 billion, nearly six times higher than that of the same period last year, ranking Hong Kong first globally in IPO fundraising.

93. We will leverage the Technology Enterprises Channel to assist Mainland technology enterprises in raising funds in Hong Kong, strengthening financial support for our nation's development as a science and technology powerhouse. We will also optimise the regimes for listing on the Main Board and issuing structured products, consider enhancements to the listing requirements for companies with weighted voting right structures, explore shortening the stock settlement cycle to T+1, encourage more overseas enterprises to seek secondary listing in Hong Kong, support China Concept Stock companies to return from overseas markets, with Hong Kong as their preferred destination, and press ahead with the inclusion of an RMB trading counter under Stock Connect's Southbound trading for Hong Kong stocks.