Panel Discussion: Capital Market Reforms in Asia and the Pacific

Asian capital markets are undergoing a period of active reform, as policymakers seek to strengthen their role in supporting growth, resilience and innovation. Many jurisdictions in the region are implementing reforms aimed at expanding the range of financing options available to firms, particularly SMEs and high-growth companies. This includes developing corporate bond markets, fostering private capital ecosystems, and improving market infrastructure and regulatory frameworks to facilitate issuance and investment. At the same time, policymakers are working to broaden the investor base. 

Other jurisdictions (including Japan, Korea, Mainland China, Malaysia, Taiwan and Thailand) have started implementing reforms to strengthen equity markets and their governance frameworks. This includes “value-up” initiatives aimed at improving corporate profitability and capital efficiency, alongside upgrades to corporate governance frameworks. Several markets are also revising listing rules, streamlining IPO processes and enhancing transparency requirements to rebuild investor trust and encourage high-quality listings.