On 26 September 2023, The Stock Exchange of Hong Kong Limited published its consultation paper on GEM listing reforms. The proposals have the objective of encouraging and facilitating listings of small and/or medium-sized enterprises on GEM while upholding high standards of investor protection. The consultation period will close on 6 November 2023. Subject to market feedback, the Exchange expects that the rule amendments will come into effect in early 2024.

On 17 March 2023, the Hong Kong Securities and Futures Commission issued a Frequently Asked Question relating to the disclosure of interests in PRC issuers under Part XV of the Securities and Futures Ordinance, Cap. 571. Practice Note 25 was published on the same date to provide guidance on the application of the Codes on Takeovers and Mergers and Share Buy-backs to PRC issuers in light of the New PRC Regulations.