Hong Kong Listing Reforms to Attract Smaller and Diverse Firms

Hong Kong is preparing a new round of stock exchange reforms aimed at expanding access for smaller and more diverse companies, with multiple voting rights, to list on the Hong Kong Stock Exchange. The proposed Hong Kong listing reforms, announced by Salina Yan Mei-mei, Permanent Secretary for Financial Services and the Treasury, seek to lower qualification thresholds and widen eligibility across industries while maintaining listing quality. Yan told lawmakers that simplifying procedures without compromising standards is essential to sustaining momentum in the market, which has seen average daily trading volume surge 132% and IPO fundraising rise 220% in the first nine months of 2025. The listing reforms will also target ASEAN and Middle Eastern companies, promote insurance investment in infrastructure, and expand Hong Kong’s family office and investment migration programmes to reinforce the city’s position as a global capital markets hub.