We need to be clear about what "listing" means. Listing refers to the listing of enterprises on the Hong Kong Stock Exchange, which is what we often call IPO (initial public offering). In 20 17, many changes have taken place in Hong Kong's listed market, the most striking of which is that unicorn companies have landed in Hong Kong market one after another. These unicorn companies refer to unlisted high-growth technology companies with a valuation of more than 1 billion US dollars, and their landing is of great significance to the listed market in Hong Kong.

Next, talk about the advantages of Hong Kong's listed market. First of all, Hong Kong is located in the financial center of Asia, and its legal system and capital market infrastructure are perfect, which makes its listed market enjoy a high reputation internationally. Secondly, the Hong Kong Stock Exchange has opened up a dual shareholding structure, attracting more technology companies to choose to list in Hong Kong. Finally, Hong Kong's listed market has the advantages of resource integration and stock communication in China.

While answering this question, we should also see the problems existing in Hong Kong's listed market. For example, companies listed on the Hong Kong Stock Exchange are mainly concentrated in traditional industries such as finance and real estate, which are relatively lacking compared with emerging industries such as technology and medical care. In addition, there are differences between Hong Kong and mainland stock markets, such as different systems and different market demands, which bring challenges to enterprises.