Sou Hu Cai Jing·2025-08-02 11:03Core Viewpoint - Zhang Yong's appointment to the Hong Kong Stock Exchange's (HKEX) China Business Advisory Committee is expected to enhance the exchange's ability to optimize listing rules and attract more new economy enterprises to go public in Hong Kong [2][5]. Group 1: Zhang Yong's Background and Role - Zhang Yong, former chairman of Alibaba Group, has extensive experience in the Chinese market and financial sector, having previously held various leadership roles within Alibaba [2][3]. - His addition expands the advisory committee to nine members, which includes prominent figures from various sectors, aimed at providing insights into China's financial market dynamics [2][3]. Group 2: Impact on HKEX and Market Trends - Zhang Yong's experience is anticipated to drive further reforms at HKEX, enhancing its international competitiveness and deepening its engagement with the mainland market [5]. - The number of mainland enterprises listed on HKEX has surpassed 1,400, accounting for over 70% of the market's total market capitalization, indicating a strong trend towards new economy sectors [5]. - The "A+H" listing model is expected to see significant growth, with over 40 A-share companies planning to list in Hong Kong, and several already achieving top positions in global IPO financing [4][5]. Group 3: Future Prospects - The return of high-quality Chinese concept stocks is projected to further increase the attractiveness of the Hong Kong market, supported by regulatory encouragement from the China Securities Regulatory Commission [6].