Editor’s Note
Hong Kong officials project sustained growth for the city’s equity and gold markets in the coming year, underpinned by planned infrastructure reforms.
Senior government officials from the Hong Kong Special Administrative Region expect the equity and gold trading market in the SAR will sustain development momentum in the Year of the Horse, as the city pledges to implement market infrastructure reforms.
said Financial Secretary Paul Chan Mo-po at a ceremony on the first stock market trading day of the Year of the Horse on Friday.
Looking ahead, the SAR government will uphold an open and fair market environment, promote market reform, improve market infrastructure and development, and manage and respond to various risks effectively, the finance chief added.
he said.
Chan noted that accelerating technological advances in areas such as artificial intelligence, life sciences, and quantum computing have profoundly impacted the development and valuations of stock markets.
To strengthen Hong Kong’s competitiveness as a leading financing platform, the SAR government will work with regulators, exchanges, and the industry to explore new initiatives to enhance market development, enrich product offerings, and improve trading mechanisms, such as developing a connected depository management system for bond and equity investments, as well as promoting mutual access to cross-product, cross-market, and cross-sectoral collateral.
Chan noted.
Hong Kong Exchanges and Clearing (HKEX) Chairman Carlson Tong Ka-shing said 488 companies are queuing for listing as the SAR has implemented various reforms to ensure high-quality corporate listing in the city.
Tong said.
As international investors’ asset allocation needs are not limited to stocks, but also extend to bonds, currencies, and commodities, HKEX hopes to build a complete ecosystem covering products, trading, settlement, data, and information services that can expand the market size and bring more growth opportunities to the Hong Kong’s financial market, HKEX Chief Executive Officer Bonnie Chan Yi-ting noted.
Apart from the bond and equity market, the SAR government is also devoting resources to develop the city as a fully-fledged international gold trading center. The vision is to establish Hong Kong as a regional gold reserve hub by expanding its gold storage capacity to over 2,000 tons within three years, thereby developing a comprehensive industry chain in the gold trading industry in the segments of investment and trading, derivatives, warehousing, insurance, trade and logistics.
