Hong Kong may have topped the global charts for the most initial public offerings last year, but the local stock exchange also holds another world record - the costliest developed market in which to trade shares.
Because of hidden fees, investors pay about a quarter to a third more, on average, to buy and sell stocks in Hong Kong than on exchanges in the United States and Britain - and that is excluding the hefty tax in the form of stamp duty on every trade.
Britain still has stamp duty, but it has long been abolished in the US.
The problem for local investors is that they have no choice - Hong Kong Exchanges and Clearing is a monopoly, which is unlikely to change any time soon.
Lawmakers are debating a bill that would inject more competition into the economy by reining in business practices such as price-fixing and abuse of market power.
But the stock exchange, nearly 6 per cent owned by the Hong Kong government, which controls about half the board seats, looks likely to be exempt from the new law.