Details of reforms to streamline the listing process in Hong Kong could be unveiled as early as today, outgoing Securities and Futures Commission chairman Tim Lui Tim-leung said yesterday.
In his policy address on Wednesday, Chief Executive John Lee Ka-chiu said the approval process for new listing applications would be smoothened to attract more initial public offerings to the city.
And Secretary for Financial Services and the Treasury Christopher Hui Ching-yu noted in a briefing yesterday that details will be released within the week.
Lui, who steps down tomorrow after six years in the role, also offered words of advice for his successor, Kelvin Wong Tin-yau, the current chairman of the Accounting and Financial Reporting Council.
He advised Wong to communicate with all stakeholders frequently to ensure success.
He also believed the future focus of the SFC would be to strengthen Hong Kong’s status as an international financial hub and to deepen connecting schemes with the mainland.
His comments came as the SFC welcomed the appointment of Keith Pogson and reappointment of Chew Fook-aun as non-executive directors, each for a term of two years.
Separately, the SFC has added a breeding gilts scheme operated by Naruang Integrated Farm in the Philippines as a suspicious investment product. One of the scheme’s marketing agents is NIF Company in Hong Kong.
Staff reporter
