HKEX(HK:00388) 券商中国·2025-06-20 23:19Core Viewpoint - The Hong Kong Stock Exchange (HKEX) emphasizes the importance of continuous reform in listing rules to create a favorable investment environment, rather than focusing solely on absolute rankings [1][12]. Group 1: Development and Growth - HKEX has evolved from a local exchange to an international market connecting China and the world, with the number of listed companies increasing from 790 in 2000 to over 2600 today [2][6]. - The total market capitalization of the Hong Kong stock market has grown sixfold, and the average daily trading volume has increased ninefold, reaching over 2400 billion HKD compared to 130 billion HKD in 2000 [3][6]. - As of June 20, 2023, HKEX has completed 31 IPOs this year, raising a total of 884 billion HKD, surpassing the total financing amount for the entire previous year [2][8]. Group 2: Market Dynamics and Trends - There has been a significant shift in the types of companies listed, with an increase in technology and new economy firms, particularly those that were previously unprofitable, such as biotech companies [8]. - The proportion of new economy companies listed on HKEX has increased, with major mainland companies like SF Express and Midea Group seeking dual listings in Hong Kong [8]. - The market has seen a resurgence of interest from international capital, particularly in innovative technology and new consumption enterprises [4]. Group 3: Future Outlook and Initiatives - HKEX aims to continue enhancing its international presence and will promote its market abroad in the second half of the year [4]. - The exchange is expanding its connectivity mechanisms, which now include stocks, bonds, ETFs, and interest rate swaps, with plans to incorporate Real Estate Investment Trusts (REITs) in the future [11][13]. - HKEX is committed to optimizing its trading infrastructure and improving the trading experience for participants, including potential adjustments to trading fees and the cancellation of trading halts due to adverse weather [14].