The Hong Kong Securities and Futures Commission welcomes the Hong Kong Exchanges and Clearing Limited's plan to implement a T+1 settlement cycle in the Hong Kong stock market.

Mr. Leung Chung-yin, Executive Director of the Market Supervision Department of the Hong Kong Securities and Futures Commission, said: "The transition of the settlement cycle to T+1 is an important step in maintaining Hong Kong's competitiveness as an international financial center and ensuring alignment with global market developments. We welcome the consultation conclusions published by Hong Kong Exchanges and Clearing Limited and the adoption of an implementation approach based on market readiness. The Commission calls on industry participants to begin preparatory work early, assess the impact of the change on their systems, processes, and operational arrangements, and work closely with counterparties and service providers to ensure a smooth and orderly transition."