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Submissions and Reports
Budget, Policy Address & Major Submissions
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Retail & Tourism
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Consultation on a Proposed New Listing Regime for Emerging and Innovative Companies
The Chamber welcomes and supports the proposal to broaden capital market access in Hong Kong and to enhance the competitiveness of its listing regime by allowing the listing of companies with weighted voting rights. In addition to ensuring that the new listing conditions serve their intended purpose of attracting quality issuers from the emerging and innovative sectors, the Chamber also advocates fairness, investor protection and education.
Consultation on the Guideline on the Keeping of Significant Controllers Register by Companies
In its response to the Company Registry on the consultation on the Guideline on the Keeping of Significant Controllers Register by Companies, the Chamber supports for the publication of the Guideline to provide clarity and certainty to businesses in complying with the relevant legal requirements but has cautioned against giving statutory backing to the Guideline.
Submission on Anti-Money Laundering and Counter-Terrorist Financing
The Chamber supports the Government’s efforts to comply with the Financial Action Task Force’s recommendations on countering money laundering and terrorist financing activities but also reiterates the need to ensure that such undertakings do not affect our ability to compete.
Consultations on the New Board and Review of the Growth Enterprise Market and Main Board Listing Rules
In its response to the Hong Kong Stock Exchange’s consultations on the New Board and Review of the Growth Enterprise Market and Main Board Listing Rules, the Chamber has extended qualified support to the proposals for attracting more companies to list in Hong Kong.
Consultations on Legislative Proposals to Enhance Regulatory Regime for Combating Money Laundering and Terrorist Financing
The Chamber has submitted its views to a government consultation on proposals to reinforce legislation and regulate certain non-financial businesses and occupations for combating money laundering and terrorist financing in Hong Kong. In its submission of 3 March, the Chamber agrees in principle with the spirit to promote business compliance but points to questions regarding the practicality, reasonableness and proportionality of the Government’s approach to achieving such goals.
Proposals to Enhance the Financial Dispute Resolution Scheme
The Chamber generally supports the FDRC’s proposals to enhance the service features of the current Financial Dispute Resolution Scheme. The Chamber has also flagged a number of issues that the FDCR should pay attention to if and when its proposals are implemented.
Consultation Paper on the 2016 Preliminary Draft Convention on the Recognition and Enforcement of Foreign Judgments
The Chamber believes that public discussion should focus on the potential merits and demerits of implementing the Convention rather than the Convention’s provisions, which is the approach adopted in the consultation paper. The Government should also take stock of existing measures for enforcing foreign judgments before consideration is given to Convention accession.
Joint Consultation Paper on Proposed Enhancements to The Stock Exchange of Hong Kong Limited's Decision-Making and Governance Structure for Listing Regulation
The Chamber does not support the proposals as set out in the consultation paper mainly because there is insufficient evidence to show that there will be net gains from doing so.
Some Proposed Amendments to the Companies Ordinance (Cap. 622) and its subsidiary legislation
The Chamber’s response to the Government’s proposed amendments to the Companies Ordinance and its subsidiary legislations is as given in the attached paper.
Public Engagement Exercise on Retirement Protection
In its submission on retirement protection, the Chamber has expressed support for directing our finite resources to helping the less well-off including the poor elderly in Hong Kong. This would necessarily entail a means-tested approach to determine eligibility. The Chamber has also called for a wholistic review of the MPF system to enhance this very important retirement pillar. Mere focus on the MPF’s offsetting mechanism would be too narrow and of limited use to be effective.
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