Hong Kong to review listing rules and virtual asset licensing

It will also explore enhancing measures for the issuance and transaction of digital bonds.

The Hong Kong government is looking to enhance its strengths as an international financial centre (IFC), including reviewing listing rules and licensing of virtual assets.

In his 2025 Budget Speech, Financial Secretary Paul Chan said that they will review listing requirements and post listing ongoing obligations.

The government also plans to evaluate listing-related regulations and arrangements with the goal of improving the vetting process, optimising the thresholds for dual primary listing and secondary listing, and reviewing the market structure.

They also plan to explore the establishment of a post-delisting over-the-counter trading mechanism, Chan said.

The Hong Kong Exchanges & Clearing is also reviewing with the Securities & Futures Commission (SFC) the trading unit system or the so-called “board lot” system. They will put forward proposed enhancements on the trading arrangements later this year, Chan said.

The government announced that it will soon issue a second policy statement on the development of virtual assets.

The government also plans to conduct a consultation on the licensing regimes of virtual asset over-the-counter trading services and custodian services this year, Chan said.

Hong Kong is also looking to enhance measures related to the issuance and transactions of digital bonds.

They will also propose measures to promote gold market development this year, he added.