德勤：香港应提升股市流动性，完善科创生态圈建设

Group 1 - The core theme of the upcoming Policy Address by the Chief Executive of Hong Kong is expected to focus on economic transformation, with Deloitte proposing measures to enhance market liquidity and improve the innovation ecosystem [1] - Deloitte emphasizes Hong Kong's critical role in global capital flow, technological innovation, and national development, urging continuous progress and adaptation to serve national needs and promote sustainable growth [1] Group 2 - Deloitte suggests targeted measures to strengthen Hong Kong's financial services sector, including enhancing stock market liquidity and attracting new economy companies to list in Hong Kong [2] - Specific recommendations include extending trading hours for the Hong Kong stock market, expanding the investor base for Stock Connect, and optimizing tax policies to attract international companies for dual listings [2] - The proposal includes a phased extension of trading hours, initially extending the closing time to 6 PM, with future considerations for 24-hour trading to attract global investors [2] Group 3 - To attract more new economy companies, Deloitte recommends broadening the definition of "innovative industries," relaxing voting rights restrictions for "same share different rights" companies, and adjusting the thresholds for secondary listings [3] - Deloitte also suggests expanding the scope of confidential applications under the "Technology Enterprise Fast Track" and introducing a new "Overseas Company Listing Fast Track" to support companies already listed abroad [3] Group 4 - Deloitte highlights the importance of developing a digital asset ecosystem in Hong Kong, focusing on areas such as fintech, healthcare, logistics, and construction for targeted investment [4] - The firm recommends expanding the regulatory sandbox to include advanced applications like eVTOL and AI traffic management, promoting infrastructure for vertical take-off and landing facilities, and integrating low-altitude infrastructure into urban planning [4] - Collaboration with other cities in the Greater Bay Area is suggested to explore financial innovations and enhance market liquidity, alongside exploring the compliant use of stablecoins to support mainland enterprises in global expansion [4]