HKSAR gov't unveils task force to boost stock market liquidity

HONG KONG, Aug. 29 (Xinhua) -- The Hong Kong Special Administrative Region (HKSAR) government on Tuesday announced the establishment of the task force on enhancing stock market liquidity to comprehensively review factors affecting stock market liquidity and make improvement proposals to the HKSAR chief executive.

The task force comprises nine members from the financial services sector, relevant government officials, as well as representatives from financial regulators and the Hong Kong Exchanges and Clearing Ltd., according to a statement of the HKSAR government.

As an international financial center, Hong Kong possesses a deep and broad stock market and is the prime listing platform for many mainland and overseas companies. The task force is expected to holistically review key internal and external factors affecting market liquidity, including the listing regime, market structure and trading mechanism.

It will also put forward specific recommendations on such matters as strengthening the competitiveness and sustainable development of Hong Kong's stock market, and promoting it to issuers and investors in strategic markets, said the statement.

"We need to stay close to market changes and needs, and seek to strengthen Hong Kong's competitiveness and speed up our development through strategic and forward-looking planning as well as taking forward measures in the short, medium and long term," said Paul Chan, financial secretary of the HKSAR government.

The task force comprises industry leaders, professionals, representatives from financial regulators and market participants, he said. "I look forward to their joint efforts and wise counsel to the HKSAR government for developing a more vibrant, competitive and dynamic capital market for Hong Kong."