Hong Kong Central Securities Register: Hong Kong will transition to a paperless securities market starting next year, and the related systems are undergoing final testing.

Starting in early 2026, Hong Kong will transition to a paperless securities market. Xiong Ruilu, CEO of the Hong Kong Central Securities Registration and Asia Issuer Services, stated that the official implementation date is pending regulatory approval. The company is currently applying to become an Approved Securities Registrar (ASR), and their systems are undergoing final testing. They expect to assist approximately 1,100 eligible listed company clients and over 1.6 million investor accounts in transitioning to the new paperless securities market system. He mentioned that investors will be able to dematerialize their securities in the future through electronic transfers, address changes, bank account updates, and other operations on their mobile applications. They will also be able to view their entire investment portfolio, the total value of all their stocks, and more. He expressed confidence in maintaining a market share of around 60% next year, as many companies are lining up to list on the new stock market. According to HKEX data, the paperless securities market will come into effect in early 2026 (the implementation date). This market will apply to securities listed or to be listed on the Hong Kong Stock Exchange (HKEX), aiming to reduce the need for paper and manual processing, streamline processes, and enhance the efficiency and competitiveness of the Hong Kong securities market infrastructure. Once fully implemented, almost all Hong Kong-listed securities can be held in paperless form, bringing the Hong Kong market in line with global best practices and improving market efficiency. Settlement processes for stock transactions will be faster, and investors will be able to manage their portfolios electronically. Other market participants, including issuers and intermediaries, will benefit from the efficiency gains of simplified and automated processes.