The Hong Kong government is taking significant steps to fortify its position as a leading international financial center. In his recent budget address, Financial Secretary Paul Chan outlined plans to revise listing regulations and explore new measures for digital assets and trading systems. The government intends to optimize the regulatory framework to attract more diverse listings while enhancing market transparency and efficiency. Additionally, efforts will be made to develop the digital bond market and promote the growth of precious metals trading.

Chan emphasized that the government will conduct a comprehensive review of existing listing requirements and post-listing obligations. This assessment aims to refine the approval process and adjust thresholds for dual primary and secondary listings. Furthermore, discussions are underway to introduce an over-the-counter trading mechanism for delisted companies, providing alternative trading avenues. The Hong Kong Exchanges & Clearing, in collaboration with the Securities & Futures Commission, is also evaluating the current trading unit system to propose enhancements later this year.

In response to the rapid development of virtual assets, the government plans to issue a second policy statement on their regulation. Consultations will be launched to establish licensing regimes for over-the-counter trading services and custodian services related to virtual assets. These initiatives aim to create a robust and adaptable regulatory environment that can support innovation in the fintech sector.

To further diversify financial products, the government will explore strategies to facilitate the issuance and trading of digital bonds. Measures will also be introduced to boost the development of the gold market. Through these multifaceted reforms, Hong Kong seeks to maintain its competitive edge in the global financial landscape by fostering an innovative and inclusive financial ecosystem.