Edward Yau: Hong Kong's economy should advance steadily this year, and the amount raised through IPOs is very likely to surpass last year's.

Hong Kong Financial Secretary Paul Chan Mo-po said that the government currently analyzes that Hong Kong's economy should steadily advance this year, and specific growth calculations will be announced in the financial budget to be released next month. He also believes that the prosperity of the Hong Kong financial market needs to be transmitted to a wider range of industries over time. He stated that sectors such as retail and catering have stabilized recently, with even slight growth, and the industry needs to transform and innovate, with the hope of policy assistance. Paul Chan Mo-po expects that the Hong Kong IPO market will make steady progress this year, with a cautious optimism, and the funds raised in IPOs are very likely to exceed last year. He believes that apart from Hong Kong, there is no better choice for mainland Chinese companies to list outside the US. Currently, there is a strong momentum in the pipeline for listing, with a significant number of technology and innovation companies. He also mentioned that the Hong Kong Exchange will consult the market on the operation mode of the "T+1" settlement cycle in the first half of the year. In response to Nasdaq's plan to extend trading hours from 16 hours to 23 hours per week for 5 days, Paul Chan Mo-po said that financial competition is global and will closely monitor the practices of exchanges, but believes it is premature to decide whether Hong Kong stocks should follow suit. Regarding the political turmoil in Venezuela, Paul Chan Mo-po stated in a media interview that Hong Kong's investments in Venezuela are relatively small. However, he emphasized that Hong Kong must be prepared for risks under the principle of "one country, two systems," as it may be influenced by geopolitical factors. Therefore, several years ago, contingency plans were put in place for the financial market, considering that Hong Kong is an international financial center of the country. In any event, the mainland regulatory authorities will also provide significant support to Hong Kong.