The Securities and Futures Commission of Hong Kong (SFC) published its 2017-2018 Annual Report on June 27 and stated that as of March 31, 2018, the number of licensed corporations was raised by 9 percent to 2,702, which had reached a record high.
The SFC also pointed out another record high in the number of licensees and registrants, which totalled 44,358, and had increased by 3 percent from last year.
By March 31, 2018, the SFC had earned a profit of HK$ 243 million, a rise by 168.3 percent year on year, while the operating expense totalled HK$ 1.772 billion, which had increased by HK$ 53.14 million from last year.
As a financial regulator in an international financial center, the SFC strives to strengthen and protect the integrity and soundness of Hong Kong's securities and futures markets for the benefit of investors and the industry.
The SFC received 8,294 new license applications for trading and account records, which had been raised by 6 percent from 2017, reviewed 309 listing applications, and supervised 401 takeovers-related transactions and applications.
It also conducted 301 risk-based on-site inspections and noted over 1,400 incidents of breaches of the SFC's rules.
According to a recent report by Deloitte, the number of IPOs in Hong Kong in the first half of 2018 was the highest in the world, which was estimated to be 101 new stocks, up 49 percent year-on-year.
Stock Connects now covers 1,500 Chinese Mainland stocks and 460 Hong Kong Stocks, representing more than 80 percent of the two markets' combined market capitalization.
The total number of authorized collective investment schemes rose to 2,799, of which 758 were Hong Kong-domiciled funds.
To promote supervision and cooperation, the SFC and the China Securities Regulatory Commission (CSRC) will work together to implement a plan to explore the market.
Carlson Tong, the chairman of the SFC, stated that the SFC would remain squarely focused on upholding fair and orderly markets to foster investors confidence. The SFC would remain determined to tackle emerging regulatory challenges and keep pace with technological innovations to maintain a healthy, and sustainable market development.
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