The Hong Kong Special Administrative Region Government: Establishment of the Task Force on Promoting Stock Market Liquidity

The government today (August 29th) announced the establishment of a dedicated task force to promote stock market liquidity, with the aim of comprehensively examining factors affecting stock market liquidity and submitting improvement proposals to the Chief Executive. The task force will be chaired by Tang Jiacheng and will include eight other representatives from the financial industry, relevant government officials, as well as representatives from financial regulatory bodies and the Hong Kong Exchanges and Clearing Limited. The task force will convene meetings in the short term.

As an international financial center, Hong Kong's stock market is both deep and extensive, making it the preferred listing platform for numerous domestic and international companies. The task force will comprehensively examine the major internal and external factors affecting market liquidity, including listing systems, market structures, and trading mechanisms. The task force will also make specific recommendations on enhancing the competitiveness of the Hong Kong stock market, promoting its sustainable development, and how to promote the Hong Kong stock market to issuers and investors in key markets.

Financial Secretary Paul Chan said, "With the solid support of the country, the Hong Kong Special Administrative Region (HKSAR) government, relevant regulatory bodies, and the industry's unremitting efforts, Hong Kong's financial and stock markets have achieved vigorous development, attracting top global financial institutions, companies, and investors, and becoming a leading fundraising platform and investment market, contributing to the development of the real economy. Faced with the impact of geopolitical and external economic environments, Hong Kong needs to closely follow market changes and needs, make strategic and forward-looking plans, and enhance competitiveness and accelerate development through short-, medium-, and long-term measures."

He continued, "The task force brings together industry leaders, professionals, as well as representatives from financial regulatory bodies and market participants. I look forward to their collective efforts in building a more vibrant, competitive, and dynamic capital market in Hong Kong and providing advice to the HKSAR government."