Chen Yiting: The average daily trading volume of Hong Kong stocks has temporarily exceeded HKD 200 billion this year, and the "ruins theory" is self-defeating
The CEO of Hong Kong Exchanges and Clearing (HKEX), Charles Li, stated that the average daily trading volume of Hong Kong stocks in 2023 has exceeded HKD 200 billion, a significant increase from last year's HKD 132 billion. Last year, 71 new companies were listed, raising HKD 88 billion, an increase of about 90%. She emphasized that Hong Kong needs to become a liquid market to attract investors and pointed out that the regulations for gender-diverse boards have come into effect, which is expected to add 800 female director positions. Charles Li rebutted the "ruins theory," believing that the Hong Kong market has regained vitality
The CEO of HKEX, Charles Li, stated that last year, a total of 71 companies were newly listed in Hong Kong, raising HKD 88 billion, an increase of about 90% compared to 2023. From the beginning of the year to March, there have already been 11 new listings, with over a hundred companies waiting to go public. She also mentioned that the trading volume of Hong Kong stocks has made significant progress over the past year, rising from an average daily trading amount of about HKD 100 billion in 2023 to HKD 132 billion last year, and has temporarily surpassed HKD 200 billion this year.
In the program "Footprints of the Past," Charles Li expressed hope that Hong Kong could become a liquid market, as active trading can attract investors. In the past, HKEX has introduced measures to increase market liquidity, such as continuing to operate during severe weather conditions.
Last month, the daily trading amount of Hong Kong stocks broke HKD 400 billion three times. Charles Li stated that recent breakthroughs in artificial intelligence in mainland China have drawn the attention of overseas investors to new opportunities, allowing them to invest and explore through Hong Kong as a platform. A significant portion of the trading volume exceeding HKD 400 billion came from investors around the world. She believes Hong Kong can play a bridging role and enhance its recognition internationally.
Regarding the previous claims that Hong Kong is an "international financial center relic," Charles Li said that such statements originated from the end of 2023 and the beginning of 2024 when the Hong Kong stock market was sluggish. However, due to the efforts of various sectors, some achievements have been made, and the "relic theory" has been debunked. The new stock market and trading volume clearly demonstrate that the claims have been completely overturned.
Additionally, the requirement for listed companies to have diverse gender representation on their boards will take effect this year. Charles Li mentioned that essentially all listed companies comply with the regulations, which is equivalent to adding 800 female director positions in Hong Kong within two years.
Charles Li pointed out that while there is gender equality in Hong Kong, the boards of listed companies have historically been single-gender. A survey conducted two to three years ago showed that among more than 2,600 listed companies in Hong Kong, 800 companies had boards composed entirely of men, which does not match the demographic structure of the local population. She believes that gender diversity is crucial for corporate decision-making, and after conducting public consultations, the decision was made to implement the "Female Director Mandate."
