Chen Maobo: The application for listing in Hong Kong is booming, HKEX and the Hong Kong Securities and Futures Commission are working overtime to review.

Hong Kong Financial Secretary Paul Chan Mo-po stated at a meeting of the Legislative Council Finance Committee that the queue for companies seeking to list in Hong Kong is very active at the moment. The Hong Kong Stock Exchange and the Securities and Futures Commission have been working overtime to process the applications quickly. He believes that it is important to seize this trend and try to let more companies go public. Hong Kong ranked first in the new stock market last year, and he hopes to set a new record this year, but at the same time, it is important to have strict oversight to instill public confidence in companies listed in Hong Kong. When asked about the bad debt rate in the context of the government's guarantee scheme for small and medium-sized enterprises, Paul Chan Mo-po explained that Hong Kong has faced challenges such as the pandemic, trade wars, and economic transformation, leading to increased pressure in some industries and a slight rise in bad debt rates. Generally speaking, the bad debt rate for loans guaranteed by 80 to 90% is not too high. Furthermore, Paul Chan Mo-po mentioned that the Hong Kong government is currently focusing resources on promoting the development of the Northern Metropolis. As for the artificial island in the Central Waters, and the related transportation planning, there are alternative options, and the authorities will consult with the Legislative Council and the community once the relevant studies are more mature. Some lawmakers are concerned about whether continuous improvement in public finances could provide Trillions of MPF for low-income individuals. Paul Chan Mo-po stated that such proposals involve long-term commitments and need to be carefully considered in the context of overall social welfare and other considerations.