Hong Kong’s new listing regulations aimed at attracting mainland specialist technology firms are already paying off, with three companies successfully listed on the HKEX within just one month of the rules taking effect.
Last month, HKEX announced the launch of Technology Enterprises Channel, which allows mainland enterprises in cutting-edge sectors such as artificial intelligence, robotics, and new energy to apply for listing in the Hong Kong Special Administrative Region even if they are not yet profitable, provided they meet certain requirements related to market valuation, research and development, and path to commercialization.
Following its announcement, HKEX witnessed a substantial influx of consultations and applications from mainland entities.
"The response has been very positive. Through the Technology Enterprises Channel, enterprises can directly raise questions to us from the early stage of exploring a Hong Kong listing. We can provide some tailored guidance so as to facilitate their early entry into Hong Kong's capital market," said Bonnie Chan Yiting, chief executive officer of HKEX.
Chan highlighted that HKEX has optimized its approval process and relaxed listing requirements to enhance the appeal of Hong Kong's capital market to emerging sci-tech companies in the mainland.
"We hope to improve the whole approval process. For companies already listed on the A-share market and eying a Hong Kong listing, we expect to shorten the process to 30 working days with only two rounds of inquiries," said Chan.
Hong Kong's new listing rules yield results as three mainland tech firms go public within a month
