Hong Kong Immigration: The Chief Executive of the Hong Kong Stock Exchange, Li Xiaojia, stated on the 18th that there have been no changes to the plans related to the "Shenzhen-Hong Kong Stock Connect," and the preparation work is still in full progress.
After attending a luncheon, Li Xiaojia mentioned that the consultation on the concept paper regarding dual-class shares will soon yield results, pending the announcement from the listing committee.
When asked about the price limit mechanism and the after-hours bidding mechanism, Li Xiaojia stated that there is a consensus on the consultation, and it is expected to be announced in early July, with the earliest implementation in the second half of next year. He expressed hope that both measures could be launched simultaneously to reduce the frequency of system changes for brokers. He believes that these two measures will make market operations safer and more efficient, and stated that the Hong Kong Stock Exchange will continuously monitor market changes to ensure operational safety.
In addition, Li Xiaojia stated that the scale of the mainland capital market is growing larger and becoming increasingly active. The development of systems such as the New Third Board provides more options for listed companies and poses challenges to the existing business model of the Hong Kong Stock Exchange. He believes that Hong Kong, as an open market, should adopt an open attitude towards these developments, ultimately allowing the market to make the decisions.
