According to its current positioning, the Shanghai Stock Exchange is positioned as the main board market and mainly serves large enterprises. Therefore, listed companies will be dominated by the market. The Shenzhen Stock Exchange is positioned as a small and medium-sized board market, mainly serving small and medium-sized enterprises. Therefore, listed companies are mainly small and medium-cap companies. In fact, since the Shenzhen Stock Exchange resumed issuance of new shares, all new shares issued have been small and medium-sized board stocks.

By the way, the abbreviation of the Shanghai Stock Exchange should be the Shanghai Stock Exchange, not the Shanghai Stock Exchange. The abbreviation of Shenzhen Stock Exchange is Shenzhen Stock Exchange. Hong Kong Exchanges and Clearing Limited (commonly known as Hong Kong Exchanges and Clearing Limited, abbreviated as HKEx in English, stock code HKEx: 0388) is a holding company that wholly owns The Stock Exchange of Hong Kong Limited. The company has three subsidiaries, Hong Kong Futures Exchange Limited and Hong Kong Securities Clearing Company Limited. The main business is to own and operate the Hong Kong Stock Exchange and Futures Exchange, as well as their related clearing houses.

In 1999, the Financial Secretary of the Hong Kong SAR proposed a comprehensive reform of Hong Kong’s securities and futures markets to improve Hong Kong’s competitiveness and meet the challenges brought about by market globalization. According to the reform plan, the Stock Exchange of Hong Kong Limited (the Stock Exchange) and the Hong Kong Futures Exchange Limited (the Hong Kong Futures Exchange) will be demutualized and merged with the Hong Kong Securities Clearing Company Limited (Hong Kong Clearing Company) to form a single holding company, the Hong Kong Exchange. have. The three companies completed the merger on March 6, 2000, and on June 27, 2000, the Hong Kong Stock Exchange was listed on the Stock Exchange by introduction.

Currently, the Hong Kong Exchange is the only institution that operates the Hong Kong stock market. No individual or institution may hold more than 5% of the shares of the Hong Kong Exchange without the consent of the Financial Secretary. On September 11, 2006, the Hong Kong Stock Exchange became a constituent stock of the Hang Seng Index.