In response to media requests for Hong Kong Exchanges and Clearing Limited (HKEx) to comment on Alibaba Group Holding Limited’s plans for an initial public offering in the US, HKEx Chief Executive Charles Li said:

"We respect the company’s decision and wish it well.

We are proud of our tradition of respect for the rule of law and adherence to principles.

However, we also need to find ways to make our market more responsive and competitive, particularly with respect to new economy or technology companies.

We have to consider possible changes where they might be necessary, with everything according to our due process.  The Listing Committee's work on shareholding structures didn’t start because of Alibaba and will not end now because of Alibaba.

We need to ensure our markets continue to be relevant in the new era of economic development."

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