The Stock Exchange of Hong Kong Limited (the Exchange) operates the only recognised stock market in Hong Kong. It is responsible for ensuring, so far as reasonably practicable, that the Hong Kong markets are fair, orderly and efficient.

As the frontline regulator of companies listed on its market and for listing-related matters, the Exchange takes a leading role in regulating companies seeking admission to the Hong Kong markets and supervising those companies once they are listed. The Securities and Futures Commission (SFC) complements this role through its statutory powers of investigation and enforcement in cases involving corporate misconduct.

The Exchange’s listing-related functions are discharged by the Listing Division and the Listing Committee and fall into two broad categories: (a) the establishment and promulgation of the rules (Listing Rules) prescribing requirements for listing applicants and listed companies; and (b) the fair and impartial administration of the Listing Rules. The SFC is required under statute to supervise and monitor the Exchange’s performance of its regulatory function.