Xu Zhengyu: Multi-pronged efforts to promote the high-quality development of Hong Kong's international financial market.

On October 28, the Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, delivered a speech at the 46th anniversary celebration of the Hong Kong Securities and Investment Institute and the 24th Directors' Inauguration Ceremony, stating that they are fully committed to promoting the high-quality development of Hong Kong's international financial market, focusing on institutional innovation, product innovation, empowering enterprises, and financial connectivity. Hong Kong is dedicated to attracting more new capital, exploring new markets, and creating new growth points. Measures include optimizing the listing mechanism, facilitating overseas companies to list in Hong Kong, improving trading arrangements and efficiency, simplifying structured product issuance procedures, further optimizing the connectivity mechanism, and promoting the issuance and trading of RMB securities in Hong Kong. Additionally, Hong Kong actively promotes the application of financial technology to enhance market efficiency and investor experience, further consolidating its competitiveness as a global financial center. As one of the world's international financial centers, Hong Kong's competitiveness continues to improve, maintaining its strategic position as a gateway for capital between China and the rest of the world. Our strength is widely recognized by international investors, with Hong Kong ranking among the top three globally in areas such as banking, asset management, insurance, and fundraising in the latest Global Financial Centers Index. This reaffirms Hong Kong's leading position, such as its unique advantage as a key hub for asset and wealth management in Asia. The joint efforts of the Hong Kong government and the market have yielded encouraging results. In the first nine months of this year, Hong Kong welcomed 69 new listings, with total funds raised exceeding HK$180 billion, more than double the amount raised in the same period last year, ranking first globally. Market turnover has also been active, with the average daily turnover in the first nine months exceeding HK$250 billion, more than double compared to the previous year. These numbers demonstrate the vibrancy and global influence of Hong Kong's financial market.