Financial Leaders Meet

Financial Secretary Paul Chan today chaired the 14th meeting of the Financial Leaders Forum.

Members were briefed by the Hong Kong Exchanges & Clearing (HKEX) on the latest development of Hong Kong’s listing regime for companies with corporate weighted voting rights structures and secondary listing companies.

These developments include the new grandfathering arrangements that allow qualifying companies with corporate weighted voting rights structures to secondary-list in the city subject to relevant investor protection safeguards.

Members welcomed the HKEX initiatives to attract more high-quality companies to list in Hong Kong.

They were also updated on the use of sandboxes established by financial regulators to address regulatory and supervisory concerns at the initial development stage of new fintech products and solutions.

Additionally, they were briefed on the Government’s proposal to introduce a licensing regime for virtual asset service providers and on the latest development of the eMPF Platform, which would standardise, streamline and automate the administration processes of the Mandatory Provident Fund System.