香港证监会主席黄天祐发声！

Core Viewpoint - The speech by Dr. Huang Tianyou emphasizes the importance of Hong Kong as a leading international financial center, focusing on maintaining market integrity and promoting market development while adapting to global changes [1][5]. Group 1: Market Resilience and Activity - Hong Kong's capital market has shown resilience, maintaining orderly operations despite global market volatility, with no incidents of defaults or systemic risks reported [1][2]. - In the first three quarters of this year, new IPOs in Hong Kong raised HKD 180 billion, a twofold increase year-on-year, while subsequent stock issuances raised HKD 260 billion, up 270% [2]. - The average daily trading volume in the Hong Kong stock market increased by over 90% compared to the same period last year, with a market capitalization nearing HKD 50 trillion, ranking third in Asia [2]. Group 2: Development Initiatives - The Hong Kong Securities and Futures Commission (SFC) and the Monetary Authority have launched a roadmap to develop the fixed income and currency markets, aiming to enhance market depth and breadth [2]. - The growth of the fixed income market is expected to facilitate corporate financing and meet diverse investor needs, promoting a win-win situation for issuers and investors [2]. Group 3: Cross-Border Cooperation - The mutual connectivity between mainland China and Hong Kong has effectively facilitated two-way capital flow, with mainland enterprises raising HKD 140 billion through IPOs in Hong Kong in the first nine months of this year [3]. - The collaboration between Beijing and Hong Kong is seen as crucial for building a strong financial nation and enhancing financial openness [3][4]. - The SFC supports financial institutions based in Beijing to expand their business in Hong Kong, promoting talent mobility and shared growth opportunities [4]. Group 4: Future Outlook - The SFC believes that through collaboration with mainland regulatory bodies, the capital markets of both regions can seize historical opportunities and create a more resilient, innovative, and diverse development platform [5].