Hong Kong Treasury: The daily average turnover of GEM in March this year is about HK$78 million, an increase of 77% year-on-year.

On April 30th, Hong Kong Financial Secretary Paul Chan Mo-po responded to lawmakers, stating that since the reform of the Growth Enterprise Market (GEM), three companies have been listed on the GEM by 2024. As of the end of March this year, the Hong Kong Stock Exchange was processing over 100 listing applications, including GEM listing applications. In terms of liquidity, trading volume in the securities market has repeatedly hit new highs, with the overall average daily turnover of both the main board and GEM increasing by 26% annually. The overall average daily turnover for the first three months of this year increased by 144% annually. In March of this year, the average daily turnover of GEM was approximately HK$78 million, a 77% increase compared to the previous year. Under the newly implemented "simplified transfer mechanism," one company successfully transferred to the main board for listing in February of this year. In order to enhance the attractiveness of GEM to issuers and investors, the Hong Kong Stock Exchange implemented a series of GEM reform measures in January 2024. Paul Chan mentioned that the Securities and Futures Commission and the Stock Exchange of Hong Kong are advancing a comprehensive review of the listing regime, including reviewing listing requirements and post-listing obligations; reviewing listing rules and arrangements to improve the approval process; optimizing the dual primary listing and secondary listing thresholds, and reviewing the market structure. The reforms will examine the functions and positioning of different segments to better serve the financing needs of different types and backgrounds of companies, including small and medium-sized enterprises and start-ups. The goal of the Stock Exchange and the Securities and Futures Commission is to propose optimization suggestions in batches in different categories this year, following the principle of "mature and announce."