According to Zhitong Finance APP, HKEX (00388) Chief Executive Officer Bonnie Chan stated on a radio program that there is currently a large backlog of new listings queuing up to list in Hong Kong, but she emphasized that the exchange will not compromise on the quality of listed companies.

To cope with the workload brought by the large number of new listings, the exchange will not only recruit additional staff but also leverage technology to improve efficiency. For example, the Listing Division will use AI to screen whether newly listed companies meet all disclosure requirements.

She stated that the Stock Exchange of Hong Kong and the Securities and Futures Commission have committed to completing the review within 40 business days and after two rounds of regulatory comments, provided that the listing applicant's information is fully prepared. Some companies already listed on the A-share market can even compress this to 30 business days and one round of regulatory comments.

She pointed out that the service commitment can basically be met. Last year, Hong Kong's IPO fundraising amount returned to the top globally, which also reflects the effectiveness of the measures. In the future, efforts will be made to improve work efficiency and provide a good user experience for companies interested in listing in Hong Kong.

Regarding the proposal to shorten the settlement cycle for the Hong Kong cash market from T+2 to T+1, Bonnie Chan stated that after a very thorough market consultation, an internal review concluded that Hong Kong is capable of achieving this, but it is necessary to ensure that all market stakeholders can cooperate. She mentioned that when the consultation conclusions are announced, the market will be informed of the supporting measures that can be provided to help the industry adapt.

Bonnie Chan described shortening the stock settlement cycle as a global trend, but it is also necessary to consider the liquidity needs of investors who borrow stocks, as well as the foreign exchange needs of overseas investors. She hopes to provide more supporting measures when implementing the measures to help the market complete each trading step within a short period of time.

When asked whether Hong Kong stocks could promote 24-hour trading, Bonnie Chan pointed out that the trading system needs a time window for updates and maintenance, and the exchange must carefully consider this to ensure that operations do not go wrong. She believes that the cash market and the derivatives market can be handled differently. For example, the derivatives market has the capacity to extend the closing time from 3 a.m. to 4 a.m. or 5 a.m. to cover US stock trading hours; while for the cash market, it is necessary to analyze the potential impact on different types of market participants, such as retail investors and mainland investors participating in Stock Connect.