Hong Kong Securities and Futures Commission: Total assets under management in Hong Kong rose 20% year-on-year to a record high of HK$42.2 trillion.
Related
The Hong Kong Securities and Futures Commission is discussing the removal of the 10% minimum investment exemption for virtual asset management.
According to Odaily Odaily, the Hong Kong Securities and Futures Professionals Association stated that representatives from the regulatory body, including Ip Chi-hang, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, and Chan Ho-lim, Under Secretary for Financial Services and the Treasury, met to discuss several specific policy changes, including: canceling the previous 10% minimum investment exemption for virtual asset management, and the new regulations taking effect immediately without a transition period. In addition, the Hong Kong Securities and Futures Commission (SFC) stated that it has communicated with the Hong Kong Securities and Investment Institute (HKSI) to separate the examination and courses for virtual asset platform practitioners, and to reduce the examination fees to align with the current Paper 2 and Paper 3 examination fees. The Hong Kong Securities and Futures Association also requested a clear distinction between technology services and regulated activities, and suggested that the SFC establish a clearer approval timetable and phased reference framework. (Sing Tao Daily)
The Hong Kong Securities and Futures Professionals Association met with regulators to discuss issues related to the operating costs of virtual asset platforms.
According to Foresight News , the Hong Kong Securities and Futures Professionals Association (HKSFPA) held a meeting on July 3 with Mr. Chan Ho-lim, Under Secretary for Financial Services and the Treasury, the secretaries-general, Mr. Yip Chi-hang, Executive Director of the Intermediaries Division of the Securities and Futures Commission, Ms. To Yee-wah, Senior Director, and Ms. Wong Lok-yan, Director and Head of the Fintech Group, to discuss issues such as new policies on virtual assets, licensing system and operating costs. At the meeting, the Hong Kong Securities and Futures Professionals Association highlighted the high operating cost pressures currently faced by Virtual Asset Platforms (VATP), including the monopoly of Hardware Security Module (HSM) supply, restrictions on the ratio of cold and hot wallets, excessively high insurance coverage requirements, and on-chain transaction miner fees. They urged regulators to flexibly adjust relevant requirements while ensuring risk control. Furthermore, both sides exchanged views on issues such as the delineation of regulatory boundaries, license approval efficiency, timelines for approving innovative products, and the division of regulatory responsibilities for VA Payments.
Hong Kong Stock Exchange's USD gold futures trading volume hit a record high
According to Odaily, the Hong Kong Stock Exchange announced that a record 6,676 contracts were traded in the daytime trading session for US dollar gold futures, surpassing the previous record of 3,039 contracts set on November 7, 2022. The bid-ask spread for the most active month contracts narrowed to one to two ticks, with the August contract as low as $0.01 (one tick) and the December contract as low as two ticks. The Hong Kong Stock Exchange (HKEX) continues to introduce optimization measures for its US dollar gold futures contracts, attracting active participation from various market participants, including banks, securities firms, high-frequency trading institutions, traders, gold producers, and consumer companies. This is an important step in HKEX's strategy to improve its gold product portfolio and deepen its diversified asset ecosystem, further supporting Hong Kong's development into a leading international gold trading and storage center. (HKEX)
The People's Bank of China and Hong Kong regulators support the joint establishment of a fixed-income and currency electronic trading platform in Hong Kong.
PANews reported on July 7 that the People's Bank of China, the Hong Kong Monetary Authority, and the Hong Kong Securities and Futures Commission jointly announced their welcome to the China Foreign Exchange Trading Center and the Hong Kong Stock Exchange for jointly establishing a Hong Kong electronic fixed income and currency trading platform. This initiative aims to deepen cooperation between the mainland and Hong Kong financial markets and consolidate Hong Kong's position as an international financial center and offshore RMB business hub. The announcement stated that the platform will be based in Hong Kong, oriented towards the international market, and will adhere to international market standards and Hong Kong regulatory requirements. It will strive to create an open, fair, efficient, and stable fixed income and currency trading infrastructure, and will enhance trading efficiency and transparency, promote price discovery, reduce transaction costs, and explore technological innovation to empower financial services. The specific launch date of the platform will be announced in due course.
This week, three more companies received approval for Hong Kong IPOs, including A-share companies Beijing Junzheng and Sifang Jingchuang.
According to information disclosed on the China Securities Regulatory Commission (CSRC) website on July 5th, three new companies received approval for overseas listing or full circulation of their unlisted shares this week (June 29th to July 5th), all listed on the Hong Kong Stock Exchange. Among them, Beijing Junzheng, a leading memory chip manufacturer, and Sifang Jingchuang, a fintech service provider, are already listed on the A-share market, with market capitalizations of RMB 125.5 billion and RMB 11 billion respectively. They plan to issue no more than 61.658 million and 67.8052 million shares respectively in their Hong Kong listing plans. Feishi Technology is an electric drive solutions provider. Its revenue is expected to reach RMB 1.625 billion in 2025, with new energy vehicle solutions accounting for 50.7% of its business, but it has not yet achieved profitability. The company first attempted to list on the Science and Technology Innovation Board (STAR Market) in 2021, but was rejected in November of the same year. It first submitted its application to the Hong Kong Stock Exchange on October 31, 2025, but the application automatically expired upon the expiration of its validity period. This second attempt to list in Hong Kong involves issuing no more than 32.2908 million shares and converting a total of 116 million unlisted domestic shares held by existing shareholders into H shares. (Science and Technology Treasure News)
Shenzhen Platinum New Materials Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange.
According to Mars Finance, Shenzhen Platinum New Materials Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor.