HKEX Plans to Set Up Blockchain Private Market to Attract New Economy Companies
Luo Qi
/SOURCE : Yicai
HKEX Plans to Set Up Blockchain Private Market to Attract New Economy Companies

(Yicai Global) Aug. 4 -- As part of its efforts to maintain its international competitiveness, Hong Kong Exchanges & Clearing Ltd (HKEX) has been undertaking several initiatives. Aside from consulting on the establishment of an innovation board market, HKEX is also preparing a blockchain private market to attract more international new economy innovation enterprises.

HKEX plans to establish a totally new platform, the HKEX Private Market, next year, said Li Xiaojia, chief executive of HKEX, on his personal blog. The new initiative will be a shared services platform dealing with stock registering, transfer and information disclosure for startups in initial stages and relevant investors through the blockchain technology.

The platform will be a market free of the regulation of the Securities and Futures Ordinance, which can be used as an incubator for startups, and also a supplier of pre-listing training for enterprises and investors inclined to enter the capital market, Li said. He believes that the new platform will help Hong Kong create an eco-environment favorable for new economies.

The HKEX's new initiative will attract more innovation enterprises to Hong Kong for listing, an insider commented. Some major e-sport device manufacturers are known to be contemplating listing in HKEX.

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Keywords: HKEX , Hong Kong , STOCK EXCHANGE , New Product , Financial Regulator , New Economy , Private Market , Incubator , Startup , BLOCKCHAIN