Group 1 - The Hong Kong government is expected to release a new Policy Address on September 17, which may include recommendations to lower or eliminate stock stamp duty in three phases to enhance market depth [1][2] - The Chairman of the Hong Kong Securities and Futures Professionals Association suggests that the Growth Enterprise Market (GEM) lacks vitality due to existing regulations and approval processes, which hinder small and medium-sized enterprises (SMEs) from listing on the Hong Kong Stock Exchange [1][2] - It is proposed that the GEM adopt a tiered listing system similar to the NASDAQ in the U.S., allowing differentiated listing standards based on the size and development stage of companies [1][2] Group 2 - The phased approach to stamp duty reduction includes a pilot phase to lower the duty from 0.1% within 6 to 12 months, followed by further reductions and a potential full elimination within 24 to 36 months [2] - The current regulatory framework is criticized for causing significant stock price volatility due to sudden public disclosures of warnings, which can disadvantage small shareholders [2] - Recommendations include a review of current procedures to provide major shareholders and companies with opportunities to rectify issues, ensuring the protection of minority investors [2] Group 3 - The development of stock options is seen as a way to increase market liquidity, enhance price discovery, and improve overall market efficiency, benefiting other market products [3] - A proposal for a rapid inclusion mechanism for suitable stocks to launch weekly and monthly stock options aims to optimize market structure and enhance international competitiveness [3] - Suggestions for government support for small securities firms to help them grow alongside the Hong Kong financial market, promoting a diverse market environment rather than focusing on a few large firms [3]
陈志华：建议逐步下调或取消股票印花税 GEM板可借鉴纳斯达克分层制度激发活力
智通财经网·2025-09-10 08:41