Hong Kong Stock Exchange: Suggest introducing "market maker system" for over 2000 small-cap Hong Kong stocks to boost liquidity.

Dong Yiyue, the Director of the Hong Kong Federation of Gold, and the Director of Policy Research, stated that currently, among the companies listed in Hong Kong, only 50-150 stocks have significant trading volume per day, while the trading volume of over 2000 other stocks is very low. Therefore, he suggests introducing market makers for these small market cap listed companies to increase liquidity, similar to how warrants, bull/bear certificates, and ETFs have market makers providing share liquidity. This would enhance the appeal of companies listing in Hong Kong. Dong Yiyue mentioned that some international insurance or well-known companies listed in Hong Kong have low trading volume due to the limited number of shares listed. He proposed expanding the "Southbound Connect" to include non-blue chip companies or finding ways to increase these companies' share issuances in Hong Kong, which could attract more international companies to list in Hong Kong. Dong Yiyue believes that Hong Kong should optimize its listing mechanism, making it easier for companies with different classes of shares to list. He also hopes to expand the scope of mutual market access, so that domestic and foreign investors can more conveniently invest in both the mainland and Hong Kong markets. Dong Yiyue mentioned that he has visited the Middle East, Southeast Asia, and Central Asia in the past few months, and many companies have expressed interest in listing. He hopes that besides listing locally, these companies can attract them to list in Hong Kong as their first or second listing place, to connect with mainland Chinese investors. This is especially important in today's increasingly complex geopolitical environment as it can help diversify risks.