HKEX(HK:00388) Shang Hai Zheng Quan Bao·2025-06-20 18:38Core Insights - Hong Kong Stock Exchange (HKEX) has grown significantly over 25 years, with a market capitalization of HKD 496 billion as of June 20, 2025, up from HKD 8.6 billion in 2000, representing an increase of over 56 times [1][2] - The number of listed companies on the Hong Kong Stock Exchange has increased from 790 to over 2,600 [1][2] - Mainland enterprises now account for 81% of the total market capitalization of Hong Kong stocks, indicating a strong presence of Chinese companies in the market [1][6] Market Development - The total market capitalization of the Hong Kong stock market rose from HKD 4.86 trillion at the end of 2000 to HKD 40.9 trillion by the end of May 2025 [3] - Daily trading volume in the Hong Kong stock market averaged HKD 242.3 billion in the first five months of 2025, a year-on-year increase of 120% [3] - The average daily trading volume for derivative warrants and bull/bear certificates also saw significant increases of 66% and 87%, respectively [3] Strategic Initiatives - HKEX has embraced reforms such as the introduction of dual-class shares and special listing rules for technology companies, enhancing its appeal to new economy firms [1][4] - The exchange has established mechanisms like the Stock Connect and Bond Connect to facilitate cross-border trading and improve market liquidity [1][6] - Future plans include upgrading trading and settlement systems, diversifying product offerings, and enhancing services to attract global capital [6][8] Future Outlook - HKEX aims to continue its role as a "super connector" between mainland China and global markets, focusing on innovative and high-quality enterprises [2][8] - The exchange is expected to promote investment opportunities in technology and new consumption sectors to international investors [8] - The introduction of the "H+A" listing model is anticipated to foster better interaction between A-shares and Hong Kong stocks, further expanding the market [7]