The Financial Leaders Forum chaired by Financial Secretary Paul Chan held its 13th meeting today.
Forum members were briefed by Hong Kong Exchanges & Clearing (HKEX) on the latest development of Hong Kong’s listing platform and initial public offering market, including the challenges and opportunities under the current geo-political environment.
They noted that Hong Kong should leverage its institutional strengths and unique advantages to enhance the city’s competitiveness as a global premier listing platform of choice.
Members welcomed the initiatives outlined by HKEX to attract more high quality companies to list, primary or secondary, on Hong Kong’s stock exchange.
They were also given an update by the Monetary Authority on the cross-boundary wealth management connect pilot scheme in the Guangdong-Hong Kong-Macao Greater Bay Area.
Members noted that the pilot scheme would bring new business opportunities to Hong Kong’s financial industry and provide more wealth management product choices for bay area residents, representing a major milestone in promoting mutual access of financial markets in the area.
The authority will continue to work closely with the Securities & Futures Commission and the relevant Mainland and Macau authorities to formulate the scheme’s implementation details with a view to rolling it out as soon as practicable.
On the policy measures for propelling the development of the real estate investment trust (REIT) in Hong Kong, members agreed that developing the REIT market was essential in enhancing Hong Kong’s status as a premier asset and wealth management centre.
The Government and financial regulators will explore various measures, including revising the Code on Real Estate Investment Trusts, broadening the investor base, facilitating market operation through legislative and regulatory enhancements, and stepping up market development and investor education.