Hong Kong Capital Markets Update – Issue 5, July 2023

On 30 June 2023, the Stock Exchange of Hong Kong Limited (the “Exchange”) published the conclusions of its consultation on the proposals to expand the paperless listing regime and other rule amendments (“Conclusions”).

To further simplify administrative procedures and reduce the use of paper, the Exchange published a consultation paper (“Consultation Paper”) on 16 December 2022, which set out proposals to expand the paperless listing regime and other rule amendments (for a summary, please refer to our Capital Markets Update Issue 2023-01). The consultation period ended on 28 February 2023.

Having considered the responses received, the Exchange will implement the proposals outlined in the Consultation Paper with minor modifications in response to market comments. The key amendments from the original proposals in the Consultation Paper are summarised below:

1. Streamlining the document submission process
2. Electronic dissemination of corporate communications by listed issuers
3. Simplification of Listing Rules appendices

The revised Listing Rules will take effect on 31 December 2023, except for several minor and housekeeping amendments to the Listing Rules as set out in the Conclusions will come into effect on 8 July 2023.