四大证券报精华摘要：8月4日

Group 1 - Hong Kong Stock Exchange has implemented new IPO regulations to enhance market competitiveness and flexibility, effective from August 4 [1][8] - The initial public holding threshold for "A+H" issuers has been adjusted to 10% or a market value of HKD 30 billion, signaling support for more A-share companies to list in Hong Kong [1][8] - The new regulations require at least 40% of shares to be allocated to book-building investors while maintaining a six-month lock-up period for cornerstone investors [8] Group 2 - The Panda bond market has seen a cumulative issuance surpassing CNY 1 trillion, with 116.65 billion issued this year alone, indicating a growing interest from international institutions [2] - China Shenhua has initiated a significant asset restructuring plan to integrate 13 core asset companies from its controlling shareholder, enhancing its coal resource strategy and operational capabilities [3] - The A-share market has experienced a rebound, with significant inflows from various funds, including a notable increase in new fund issuance in July, reaching CNY 34.8 billion [4][6] Group 3 - Private equity confidence has risen, with the private equity confidence index reaching 125.52, and the proportion of fully invested and leveraged private equity increasing [5] - The public fund market has shown strong performance, with July seeing the issuance of 135 new funds raising CNY 104.87 billion, driven by the floating fee rate reform [6][7] - The capital market is witnessing a surge in innovative drug sector funds, with a total of 17 "doubling funds" launched this year, reflecting strong performance in this sector [6][7] Group 4 - The recent reforms in the STAR Market and ChiNext are aimed at supporting companies in emerging sectors like AI and commercial aerospace, facilitating their access to capital markets [7][8] - The public fund industry has reached a total scale of CNY 34.48 trillion by the end of July, indicating robust growth and a shift in asset allocation strategies [8]