Secretary for financial services and the treasury, James Henry Lau, suggested setting up a central personal data bank, and said current listing rules may not suit companies of the new economy.
In order to accelerate the development of financial technology and green finance in Hong Kong, a personal data bank, also known as "KYC" - know your customer - is hoped to be established to allow institutions to assess risks.
Lau expected to set up a central system for different companies and financial products. Local residents could opt in for privacy concerns. The system may not be set up by government, but could be entrusted to a single private institution.
For the proposed new board, Lau said he hoped the new market model could help solve the existing problems such as shell companies.
Taking London as an example, he said the London stock exchange was looking at revising the listing rules to attract Aramco, the state oil firm of Saudi Arabia, to list in London, which has great flexibility. Hong Kong should dissect it, he added.
Meanwhile, three companies made their trading debuts yesterday. Shenglong Splendecor International (8481) closed at 97 HK cents, while Omnibridge Holdings (8462) closed at 47 HK cents, and Win Win Way Construction Holdings (0994) closed at HK$1.12.
Four firms are to debut today. China Shenghai Food rose the most in the gray market by 42 percent, followed by Lapco Holdings, which gained 10 percent. Wan Cheng Metal Packaging climbed 7.7 percent, but Inner Mongolia Energy Engineering fell 6.3 percent.