香港交易所-《战略规划2019-2021》（英文）-2019.2-23页_1mb

2019-2021 Strategic Plan Summary - HKEX

Core Content

The Strategic Plan for 2019-2021 outlines HKEX's vision to become The Global Markets Leader in the Asian Time Zone – Connecting China, Connecting the World. This vision is built on three pillars: China Anchored, Globally Connected, and Technology Empowered. The plan aims to enhance Hong Kong's role as a financial hub by improving market access, expanding product offerings, and leveraging technology to support growth and innovation.

Main Points of the Strategic Plan

1. China Anchored

HKEX is positioned to support the internationalisation of China's capital markets and promote diversification for Mainland investors.

• Expand Northbound capital inflows: Broaden availability of onshore products and underlying, and provide more offshore risk management tools.
• Expand Southbound capital allocation: Enable Mainland investors to access global underlying, promoting international diversification.
• Enhance post-trade infrastructure: Position Hong Kong as a trusted cross-border trading, settlement, clearing, and custody centre, particularly in FICC.

2. Globally Connected

HKEX aims to attract global liquidity by offering broader access to Asia Pacific underlying and creating a competitive one-stop shop for China and Asian exposures.

• Enhance product ecosystem: Provide comprehensive access to Hong Kong-listed or traded Asia Pacific underlying, alongside onshore Chinese products.
• Improve market microstructure: Make markets more globally competitive, cost-effective, and accessible to enhance liquidity.
• Expand international footprint: Broaden and deepen global operations beyond the LME, including linkages to international exchanges.

3. Technology Empowered

HKEX is committed to modernising its core systems and exploring new frontiers through strategic technology partnerships.

• Modernise core systems: Enhance product and service offerings, and improve market and operational efficiency.
• Leverage new technologies: Use AI, Blockchain, cloud infrastructure, and data analytics to optimise processes, strengthen client engagement, and explore new opportunities.
• Partner with China's tech leaders: Explore data as a new asset class and pioneer innovation in financial markets.

Key Initiatives

Main Challenges and Opportunities

• China's capital markets: Although increasingly open, they remain underdiversified, with a focus on stabilising the domestic market and attracting inbound investment.
• Global liquidity: Hong Kong has become a primary destination for China exposure among international investors, but access remains fragmented.
• Technology: While HKEX has a strong track record of operational stability, it needs to foster a culture of innovation and modernise its systems to stay competitive.

Organisational and Cultural Development

• Build the right culture: Promote new HKEX values, enhance internal communication, and create a shared set of expectations.
• Invest in talent: Focus on continuous learning, leadership development, and employee mobility to foster a customer-centric and innovative culture.
• Engage with external stakeholders: Strengthen engagement with government, regulators, and international bodies, while promoting CSR and ESG initiatives and building a global 'fan club'.

Summary

HKEX aims to position itself as a leading financial market in the Asian Time Zone by leveraging its strategic location, enhancing connectivity between China and global markets, and embracing technological innovation. Through initiatives such as expanding Northbound and Southbound access, improving market microstructure, and developing a robust technology platform, HKEX seeks to become a one-stop shop for Asia Pacific and China exposures, while fostering a culture of excellence and innovation.