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07:02
Recently, with the US regulatory policy tightening and the geopolitical situation tense, the return of Chinese concept stocks has become a hot topic again. The Hong Kong SAR government hopes to consolidate its position as the "preferred place" for the return of Chinese concept stocks through measures such as system optimization and interconnection upgrade. In the Hong Kong stock market, leading companies such as Alibaba, JD.com, and NetEase have taken the lead in completing dual listings or second listings, and small and medium-sized Chinese concept stocks will gradually follow suit. Recently, Chen Haolian, deputy director of the Hong Kong Financial Services and the Treasury Bureau, revealed that since the reform of the listing system in 2018, 33 Chinese concept stocks have been listed in Hong Kong, and their market value accounts for more than 70% of the market value of all Chinese concept stocks. However, some voices in the industry believe that the shortcomings of the Hong Kong stock market in terms of capacity, liquidity and valuation discounts still need to be overcome. This situation is changing. Recently, the Hong Kong dollar exchange rate has frequently touched the strong side exchange guarantee, and the Hong Kong Monetary Authority has intervened many times, reflecting the surging inflow of funds. With the expansion of the Hong Kong Stock Connect and the launch of the Liquidity Support Tool (LMM) in June, the return of Chinese concept stocks may shift from pure risk aversion to active market-oriented layout.
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