李家超发表2025年施政报告：探索缩短港股结算周期至T+1，推动更多海外企业来港第二上市

Capital Market Initiatives - Hong Kong will assist mainland technology companies in financing and explore shortening the stock settlement cycle to T+1 [3][4] - The government aims to optimize the "cross-border payment" system and enhance the issuance mechanism for structured products [3][5] - Plans to promote offshore Chinese government bond futures and expand the types of interest rate derivatives under the swap connect [3][5] Wealth Management and Investment - Hong Kong is expected to become the largest cross-border wealth management center globally, with the number of accounts for mainland investments in Hong Kong wealth products increasing from 25,000 to 110,000 [5] - The government will optimize tax incentives for funds and family offices to attract more funds to settle in Hong Kong [5] - The "New Capital Investor Entry Scheme" will be optimized to allow higher investment amounts in non-residential properties [8] AI and Technology Development - The government will promote AI development and its application across various industries to enhance social efficiency [6] - A funding program of HKD 3 billion will support local institutions in attracting international research talent in AI [6] Clinical Trials and Pharmaceutical Development - Hong Kong will attract pharmaceutical companies for clinical trials of rare disease drugs and advanced therapies [7] - Plans to establish an "International Clinical Trial Academy" to cultivate clinical trial talent in the Greater Bay Area [7] Commodity Trading and Gold Market - The establishment of a "Commodity Strategy Committee" to enhance commodity trading policies and develop a trading ecosystem [10] - Initiatives to promote gold storage and trading in Hong Kong, aiming to build a regional gold reserve hub [11] Stock Market Performance - Following the policy address, the Hang Seng Index rose by 1.66%, and the Hang Seng Tech Index increased by 4.14%, reaching new highs [12] - The Hong Kong stock market has seen significant recovery since 2025, with the Hang Seng Index up over 33% and the tech index up over 41% year-to-date [15]