At a media briefing on the Securities and Futures Commission’s Strategic Action Plan, Chief Executive Officer Julia Leung detailed measures to strengthen Hong Kong’s renminbi, fixed income, currency and commodities markets, expand mutual market access and improve market efficiency. The initiatives translate the regulator’s multiyear strategy and the measures jointly announced with the China Securities Regulatory Commission in August into near and longer-term work plans. The SFC aims to add renminbi counter trading to southbound Stock Connect by July 1, 2027, prepare REIT Connect for launch in the first half of 2027 and broaden ETF Connect participation and product coverage. Mainland insurance funds gained access to Hong Kong-listed ETFs through ETF Connect on Sept. 21, while the regulator also wants to facilitate investment by Mainland public funds and encourage greater use of SFC-authorized ETFs by Mandatory Provident Fund schemes. Other plans include developing fixed income and currency trading infrastructure, expanding renminbi-denominated products and hedging tools, and increasing the use of Chinese government bonds as collateral. To improve efficiency, the SFC plans to consult in the first half of 2027 on removing duplication between statutory prospectus requirements and the Listing Rules and allowing public information to be incorporated by reference. It is also studying T+1 settlement, board-lot reform, cross-margining and wider use of noncash collateral. Leung paired these market reforms with continued scrutiny of listing documents, sponsors and suspected manipulation of demand in public offerings, emphasizing that development measures will not weaken market integrity or investor protection.

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