Page 66 - 期货和衍生品行业监管动态（2025年6月）

期货和衍生品行业监管动态

For Mainland-Hong Kong connectivity, the cumulative southbound inflows of

the Stock Connect scheme surpassed $4.35 trillion as of May. The share of

southbound trading also increased to 22.5% of Hong Kong’s market turnover.

Other noteworthy highlights for the financial year 2024-25:

a) The SFC worked with the Hong Kong Exchanges and Clearing Limited

(HKEX) to enhance the listing application timeframe. Since its launch, the SFC’s

average response time for new listing applications has been within 20 business days

(Note 4).

b) Hong Kong’s IPO activity has turned vibrant since the Mainland announced

supportive measures in April 2024, with a total of 64 Mainland enterprises, including

leading companies, listing in the city since the announcement. During the year, IPO

funds raised surpassed $100 billion.

c) The total market capitalisation of ETFs and leveraged and inverse (L&I)

products in Hong Kong surged 35% year-on-year (YoY) to $520 billion, a record high,

with their share of total Hong Kong market turnover reaching 15%. The introduction

of single-stock L&I products in 2025 further enhances product diversity.

d) The number of SFC-approved licence applications jumped 20% YoY.
Corporate licence applications received by the SFC also increased by a similar

percentage.

e) In a landmark ruling, Hong Kong’s High Court imposed the longest prison

sentences for a market manipulation case under the Securities and Futures Ordinance.

In another case of corporate misconduct, the SFC secured a historic settlement to

compensate shareholders of Combest Holdings Limited.

f) To boost anti-scam awareness, the SFC extended the publicity of its “Don’t Be

Sucker” campaign through MTR station commercials and a TV infotainment

programme, which is estimated to have garnered more than 1.6 million views.

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