Hong Kong: It is suggested to allow qualified mainland investors to subscribe to Hong Kong IPOs

According to Hong Kong Ta Kung Pao Wen Wei Po, Hong Kong Legislative Council member Tam Yue Heng has communicated with Chief Executive Li Jiachao and other G19 members to submit a proposal for the 2024 Policy Address to him. Tam Yue Heng emphasized the use of technology to promote the development of new financial formats, including attracting financial technology companies to participate in the stablecoin sandbox mechanism, expanding the scope of testing of digital RMB as a cross-border payment tool, and promoting the development of standardized virtual asset trading platforms and products. Tam Yue Heng proposed to promote the expansion of interconnection and increase the volume, accelerate the process of new stock connection, and allow qualified mainland investors to subscribe to Hong Kong IPOs.