Hong Kong Stock Exchange (00388): This year will give listed issuers greater flexibility in managing their capital structure.

On March 18, the Hong Kong Stock Exchange (00388) published the "2023 Listing Committee Report" by its wholly-owned subsidiary, the Stock Exchange. The Chairman of the Listing Committee, Renu Bhatia, stated that this year, they will publish a consultation summary on listed stock shares to give listed issuers more flexibility in managing their share capital structure. They will also review the provisions of the Listing Rules regarding structured products, publish a consultation paper on optimizing corporate governance provisions, and publish a consultation summary on the use of ISSB2 climate disclosure guidelines in Hong Kong. The report stated that the Listing Committee reviewed 73 listing applications in 2023 and held hearings on 8 reviews and 28 disciplinary cases. The Stock Exchange introduced a new specialized listing mechanism for technology companies and implemented GEM listing reforms on January 1st this year to provide an efficient and favorable listing environment for small and medium enterprises. During the year, the Stock Exchange further expanded its international connections and added the Saudi Stock Exchange and the Indonesia Stock Exchange to its list of recognized stock exchanges, enhancing the global appeal of the Hong Kong market and providing more opportunities for issuers and investors. In November 2023, the Stock Exchange launched FINI1 to improve the operational efficiency of processing new stock listings and settlements. The time between the pricing of new stocks and the commencement of trading was reduced from five business days to two, allowing investors to trade newly listed stocks more quickly, reduce market risks, and improve market efficiency. The Stock Exchange also expanded its paperless listing mechanism to facilitate communication between issuers, investors, and the public in a more modern way.