ChainCatcher news, according to Jinshi, the Hong Kong Securities and Futures Commission today issued a consultation summary on the subsidiary legislation, codes and guidelines proposed for the implementation of the paperless securities market in Hong Kong. In response to market opinions, a five-year time limit is now proposed: after completing the relevant legislative procedures, the paperless securities market system will be implemented by the end of 2025. Companies whose laws are originally compatible with the paperless securities market system must transition to the new system in batches before the end of 2030. The Hong Kong Securities and Futures Commission will set a cap on certain fees related to the paperless securities market and consult the public separately.