HKEX Insight

Thinking back to when I relocated home to Hong Kong in the early 1980s, the transformation of the city has been profound. From a manufacturing hub, Hong Kong has evolved into an IFC serving as a vital bridge between China and the world.

Over the decades, Hong Kong’s markets have grown increasingly vibrant and liquid, attracting some of the world’s most exciting new economy and biotech companies. At the heart of this progress is HKEX, which has played a pivotal role in shaping a resilient and dynamic IFC ecosystem through stakeholder collaboration.

Our deep connectivity with Mainland China has been at the core of everything we do, helping both markets flourish. Through Hong Kong, Mainland China opened its markets to the world, and Hong Kong leveraged this unique advantage to develop as an IFC, creating a self-reinforcing momentum, a ‘flywheel’ for progress.

I saw this up close by supporting the first batch of Mainland companies listing in Hong Kong in the early 1990s. Bringing these companies to market was bold and groundbreaking at the time, and the process was anything but easy. At my firm we sent hundreds of accountants and advisors to support the process, all the while navigating unfamiliar terrain.

Throughout this story of progress, we have had the resilience to weather financial crises, geopolitical shifts and technological disruption.

That’s because HKEX and other key stakeholders – regulators, practitioners and policymakers – have worked together to prepare for the future, anticipate change and build a resilient and dynamic IFC ecosystem.

During my time as Chairman of the Securities and Futures Commission, we implemented front-loaded regulation and launched the Connect programmes, which required delicate cross-border trust-building with our Mainland counterparts.

Over the years, I have overseen work across the ecosystem to enhance listing processes and committees, upholding Hong Kong’s integrity, market quality and competitiveness.

But the story of HKEX is also a story of an obligation rooted in our position as a key part of Hong Kong’s fabric and its enduring presence in our communities.

One of the most rewarding aspects of my role has been seeing how our work impacts lives beyond the financial ecosystem.

Through the HKEX Foundation, we have donated over HK$600 million and supported 130 projects that promote financial literacy, social inclusion and environmental action.

We know that when our community thrives, our business thrives. So we will continue to partner with the social sector to promote the long-term prosperity of the Hong Kong community by supporting a wide range of projects.

Looking ahead, we’ll use our fundraising platform and product ecosystem to connect capital with green innovators and opportunities and leverage our regulatory role to provide ESG standards and guidance – helping all market participants pursue sustainability together.

So, as we celebrate HKEX’s 25th anniversary as a listed company, I am filled with pride in what we have achieved as a company and as a market, and excitement for what lies ahead.

There are huge opportunities in front of us.

More opportunities to connect China and the world; advance RMB internationalisation; support the development of China’s onshore markets; tap new capital sources; link tech innovators with capital and turn visionary ideas into world-changing solutions.

We will capture these opportunities by maximising our unique position on the doorstep of the world’s biggest growth story.

We will capture opportunities in a volatile world by enhancing our channels, infrastructure and microstructure; expanding our product ecosystem and strengthening our operations with technology.