Recent news has it that Eddie Hui Ching-yu, Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, made a clear statement in reply to a question from a Legislative Council member. He pointed out that the Hong Kong Exchanges and Clearing Limited (HKEX) has engaged with various stakeholders over the past year, including industry organizations, professional bodies, issuers and institutional investors, to advance the review of the Growth Enterprise Market (GEM, also known as "GEM"). HKEX will submit specific reform proposals on GEM within this year and launch formal public consultation. The Financial Services and the Treasury Bureau of the Hong Kong Special Administrative Region also requested HKEX to conduct a comprehensive review when examining relevant matters, including the listing system and the secondary listing trading mechanism. The main purpose of optimizing GEM is to allow the market to play its functional role, promote enterprises to list on GEM and boost trading volume. This involves multiple aspects, such as tapping potential issuers from different regions; assessing whether potential issuers can attract investors to continuously hold and trade their stocks; improving current stock liquidity; considering relevant risk management measures, etc. In addition, HKEX will further consider re-establishing a simplified transfer listing mechanism, and will draw on the experience of similar markets around the world, including the development of domestic small and medium-sized innovative enterprise financing platforms in recent years. Eddie Hui also revealed that HKEX has set up a task force under the Listing Committee to handle the GEM review, so as to solicit opinions from investors and representatives from the securities industry. The government will also continue to assist HKEX in engaging with other stakeholders to fully grasp the views from all sectors. © 2021 Meishun (Hong Kong) Management Consulting Co., Ltd. and Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved. Meishun Meiyin (Hangzhou) Consulting Management Co., Ltd. is the domestic subsidiary of Hong Kong Meishun Management Consulting Co., Ltd. under the same ultimate controller. Both companies share the same ultimate controller and operate under the same Chinese management framework. The companies comply with the laws of Hong Kong and the Mainland of China.