Hong Kong Securities and Futures Commission: Welcome more innovative and traditional industry companies to expand their business in Hong Kong and jointly create new development momentum for Beijing and Hong Kong.

On October 30th, Huang Tianyou from the Hong Kong Securities and Futures Commission spoke at the Financial Street Holdings forum, stating that the Hong Kong market is resilient and vibrant, and Beijing enterprises hold an important position in terms of market value and quantity in the Hong Kong stock market. In the future, Hong Kong welcomes more companies from innovative and traditional industries to further utilize the international financing platform in Hong Kong, obtaining funds while bringing strong new dynamics to the development of Beijing and Hong Kong. Huang Tianyou mentioned that the interconnection between the mainland and Hong Kong markets has entered its eleventh year, effectively promoting two-way capital flows. Mainland companies have effectively utilized Hong Kong's powerful international fundraising platform, raising HK$140 billion through IPOs in the first nine months of this year, highlighting Hong Kong's unique advantages under the principle of "one country, two systems" and the high recognition of international capital for mainland development. As an international financial center, Hong Kong ranks among the top three globally, renowned for its free economy, rule of law, and sound regulation internationally, while connecting domestic and foreign markets, attracting capital and talents, laying the foundation for the success of the capital market. The strong resilience of the Hong Kong market is crucial for maintaining its position as an international financial center. For example, in early April this year when global markets faced severe volatility, Hong Kong continued to operate smoothly and orderly without defaults, market manipulation, concentration of positions, or systematic risks incidents, reflecting the effectiveness of the risk management system we have established over the years and serving as a solid line of defense to protect the confidence and interests of investors. Apart from resilience, the Hong Kong market is also vibrant. Trading activities in the secondary market of Hong Kong stocks are active, with daily turnover in the first nine months increasing by over 90% compared to last year. The market capitalization of Hong Kong stocks is close to HK$5 trillion, ranking third in Asia. He mentioned that to further promote collaboration between Beijing and Hong Kong, the Shanghai Stock Exchange and the Hong Kong Stock Exchange have explored cross-border cooperation by signing a memorandum of understanding to support eligible listed companies to apply for listing in each other's market, as well as cooperation in market promotion, investor education, and other areas, which will undoubtedly promote the mutual prosperity of the two markets. Furthermore, Hong Kong actively supports financial institutions based in Beijing, such as banks, securities firms, funds, and insurance companies, to expand their business in Hong Kong, seek development opportunities, promote two-way flow of financial talents, and share the dividends of Hong Kong's continued market development.