Hong Kong Should Overhaul Its GEM Trading Board, Lawmaker Urges

What’s new: Hong Kong’s major political party called for an overhaul of the Hong Kong Stock Exchange’s struggling board for small and medium-sized companies to make new share sales easier and reinvigorate the market.

The HKEX’s Growth Enterprise Market, known as the GEM, hasn’t hosted an initial public offering since the January 2021 flotation of Yucheng Logistics Group. The dearth of IPOs is undermining Hong Kong’s reputation and function as an international financial hub, said Rock Chen, a lawmaker from the Democratic Alliance for the Betterment and Progress of Hong Kong (DAB), Thursday at a press conference.