中新社香港12月5日电 (记者 戴小橦)港股市场5日呈现回升态势，香港恒生指数重返26000点整数关口， 市场情绪显著提振。 从行业分布看，新能源汽车、生物医药、高端制造成为年末IPO主力军，前11个月前十大港股IPO中有6 家来自A股上市公司。行业结构方面，新消费与硬科技成为推动港股上市活动的"双引擎"。 安永最新发布的2025年《中国内地和香港IPO市场回顾及展望》报告显示，内地和香港IPO活动在全球 呈现增长态势。安永大中华区财务会计咨询服务主管合伙人刘国华表示，今年参与港股IPO的基石投资 主体趋于多元化，集中展现了港股的国际吸引力。 澳洲会计师公会近期在香港进行的一项调查显示，66%受访者预期2026年新股活动将进一步增加，63% 预期香港经济将继续录得增长。另有22%的受访者认为，"加强香港与其他地区的金融互联互通"是最有 利于企业的政策。 澳洲会计师公会2025年大中华区分会副会长、财经事务委员会副主席梁佑庭表示，考虑到现有超过300 家公司递表轮候上市，预计明年港股新股集资额将突破3000亿港元，有望坐稳全球新股募资额首位。 (完) 12月5日，香港恒生指数收市报26085.08点，上升149 ...

继成功推出柬埔寨与泰国、越南、老挝和日本之间的跨境二维码支付服务后，本次柬埔寨KHQR与新加 坡RoamQR（SGQR）之间的互联互通，是柬拓展金融互联互通的又一重要进展。 柬埔寨首家上市商业银行——爱喜利达银行（ACLEDA）宣布，柬埔寨与新加坡两国跨境二维码支付 第一阶段11月12日正式启动。启动仪式由柬埔寨国家银行行长谢丝蕾出席主持。 该倡议的第一阶段由包括爱喜利达银行和新加坡Liquid Group Pte.Ltd. 在内的领先金融机构共同合作推 出。持有柬埔寨瑞尔银行账户的柬埔寨旅客在访问新加坡时，通过ACLEDA Super App即可扫描新加坡 的SGQR（Singapore Quick Response Code）商户提供的RoamQR码，进行便捷、快速且安全的实时支 付。此举旨在促进本币使用并大幅便利双边交易。 ...

Group 1: Hong Kong Financial Market Developments - Hong Kong's stock market average daily trading volume exceeded $32 billion this year, doubling from last year [2] - In the first ten months of this year, Hong Kong had 80 IPOs raising over $26 billion, ranking first globally in IPO fundraising [2] - The Hong Kong government is actively promoting reforms to enhance efficiency in financing and risk management for overseas companies [2] Group 2: Monetary Policy and Financial Support - The People's Bank of China (PBOC) has implemented a moderately loose monetary policy, lowering the reserve requirement ratio by 0.5 percentage points and providing 1 trillion yuan in long-term liquidity [3] - PBOC has reduced policy interest rates by 0.1 percentage points and structural monetary policy tool rates by 0.25 percentage points to lower financing costs [3] - A total of 500 billion yuan has been allocated for consumption and pension refinancing, with an additional 300 billion yuan for technology innovation and transformation [3] Group 3: Cross-Border Financial Cooperation - PBOC has supported the Hong Kong Monetary Authority in launching a 100 billion yuan trade financing liquidity arrangement, with nearly 30 billion yuan in transactions initiated by the end of September [4] - The issuance of offshore RMB central bank bills in Hong Kong has reached 255 billion yuan this year, with a total balance of 170 billion yuan [4] - The number of bank accounts opened by Hong Kong and Macau residents has reached 475,000, facilitating cross-border financial services [4] Group 4: Regulatory and Market Opening Initiatives - The China Securities Regulatory Commission (CSRC) highlighted three achievements in capital market opening during the 14th Five-Year Plan, including increased foreign ownership in financial firms and enhanced market connectivity [8] - The CSRC aims to improve cross-border investment facilitation and strengthen communication with international investors [8] - The CSRC encourages international institutions to invest in China, emphasizing the importance of long-term investment and risk management [9]

Core Viewpoint - The People's Bank of China (PBOC) is committed to supporting Hong Kong's development as an international financial center through enhanced financial market connectivity and practical cooperation [1][2]. Group 1: Financial Market Connectivity - As of the end of September, 1,176 foreign institutions have entered the domestic bond market, with a total bond holding scale of 3.8 trillion yuan [1]. - By the end of July, over 160,000 individual investors participated in the "Cross-Border Wealth Management Connect," with a remittance amount of 120.9 billion yuan [1]. - As of the end of August, the cumulative nominal principal amount of transactions under the "Swap Connect" reached approximately 8.15 trillion yuan [1]. Group 2: Offshore Renminbi Market Development - The PBOC supports the Hong Kong Monetary Authority in launching a trade financing liquidity arrangement with a total scale of 100 billion yuan [1]. - From January to September, the PBOC issued seven batches of central bank bills in Hong Kong, totaling 255 billion yuan, with a balance of 170 billion yuan, an increase of 30 billion yuan from the end of the previous year [1]. Group 3: Financial Services for Residents and Enterprises - The number of bank accounts opened by residents of Hong Kong and Macau has expanded to eight banks in nine cities of the Greater Bay Area, totaling 475,000 accounts with a transaction amount of 41.8 billion yuan, of which 72% are linked to mobile payments [2]. - As of the end of September, there are 113 direct and indirect participating institutions in Hong Kong under the Renminbi Cross-Border Payment System (CIPS) [2]. - By the end of September, 78 Hong Kong-funded enterprises in Shenzhen have obtained 2.1 billion yuan in bank financing through credit cooperation [2]. Group 4: Continued Support for the Greater Bay Area - The PBOC will continue to enhance financial support for the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and promote high-level opening-up in the financial sector [2].

智通财经APP获悉，9月25日，中国人民银行宣布支持进一步深化内地与香港金融市场的互联互通，包 括支持各类境外机构投资者在内地债券市场开展回购业务、扩充互换通报价商队伍和优化管理机制、提 升北向交易每日额度超过一倍至450亿元人民币、会同相关部门在香港市场提供更多包括国债等的人民 币资产，以及继续与各方密切沟通协作，加快落实人民币国债期货在港上市。对此，香港特别行政区政 府表示欢迎。两地市场机构将敲定落实细节，并公布相关实施日期。 香港财经事务及库务局局长许正宇表示，香港人民币债券发行量逐年上升，2024年超过一万亿元人民 币。互换通2023年落实以来一直运作顺畅，业务量稳步上升，2025年八月的日均成交名义本金达200亿 元人民币，较2023年推出首月时增长超过五倍。随着境外投资者在内地债券市场的参与度逐渐提升，相 关风险管理工具的需求日渐增加。优化互换通机制将进一步便利海外投资者对冲内地资产的风险，有助 他们更妥善地管理其配置组合。香港政府也会与内地相关机构紧密沟通合作，扩大在港人民币产品的选 择，全速推进落实推出离岸国债期货。衷心感谢中央人民政府和内地相关监管机构的大力支持。 香港财政司司长陈茂波说，随 ...

Core Points - The meeting between Shanghai's Mayor Gong Zheng and the Hong Kong Provincial Political Consultative Conference delegation emphasizes the deep friendship and cooperation between Shanghai and Hong Kong, aiming to enhance collaboration in various sectors [1][2] - The Hong Kong Provincial Political Consultative Conference aims to promote Hong Kong's prosperity and stability while integrating into the national development strategy, acting as a bridge to strengthen financial and technological cooperation with Shanghai [2] Group 1 - Mayor Gong Zheng welcomed the delegation and highlighted the strategic positioning of Shanghai as a modern international metropolis, aiming for global influence [1] - The cooperation mechanism between Shanghai and Hong Kong has been in place for over 20 years, showcasing a successful partnership that benefits both cities [1] - The Hong Kong Provincial Political Consultative Conference is seen as a vital force in promoting practical cooperation in technology innovation, industry collaboration, and economic exchanges between the two regions [1] Group 2 - The leaders of the Hong Kong Provincial Political Consultative Conference expressed their commitment to enhancing Hong Kong's role in the national development framework and fostering connections with Shanghai [2] - They plan to leverage their extensive networks and resources to strengthen financial interconnectivity and promote cultural exchanges between Hong Kong and Shanghai [2] - The initiative aims to inject new momentum into the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta [2]

Core Viewpoint - The meeting between Shanghai's mayor and the Hong Kong delegation emphasizes the importance of enhancing technological innovation and industrial collaboration between Shanghai and Hong Kong, aiming for deeper economic ties and investment cooperation [1][2]. Group 1: Shanghai's Position and Goals - Shanghai is accelerating its development to become a world-class modern socialist metropolis, as per the strategic positioning by President Xi Jinping and the central government [1]. - The cooperation mechanism between Shanghai and Hong Kong has been in place for over 20 years, showcasing a successful partnership that promotes mutual prosperity [1]. Group 2: Hong Kong's Role and Contributions - The Hong Kong Provincial Political Consultative Conference Committee aims to leverage its extensive connections and resources to enhance financial interconnectivity and technological collaboration with Shanghai [2]. - The committee emphasizes its commitment to promoting Hong Kong's integration into the national development framework and fostering emotional and value recognition between the two cities [2].

Group 1 - The Hong Kong financial market has seen a strong recovery since 2025, with IPO financing exceeding HKD 100 billion, positioning Hong Kong as a key area for the revaluation of Chinese assets [2][3] - CITIC Group's subsidiaries, CITIC Securities and CITIC Construction Investment, have led the market by servicing 22 companies for A-share and H-share listings, raising over CNY 27 billion [2][3] - The Hong Kong Stock Exchange has optimized its listing pricing mechanism and introduced a "special line for tech companies" to facilitate the rapid listing of strategic emerging industries [3][4] Group 2 - CITIC Securities assisted BYD in completing a USD 5.6 billion H-share placement, marking the largest equity refinancing project in the global automotive industry in the past decade [4] - CITIC Construction Investment helped CATL achieve a record-breaking IPO on the Hong Kong Stock Exchange, taking only 98 days from application to listing, setting multiple records in the process [4] - The Hong Kong market has attracted numerous consumer brands due to its flexible listing mechanisms, with CITIC Securities supporting several new consumer enterprises in their listings [4] Group 3 - In the offshore bond market, CITIC institutions have ranked first in both the number and scale of underwriting Chinese offshore bond projects from January to June 2025 [5] - CITIC Securities facilitated the issuance of a CNY 4 billion offshore RMB bond by State Grid, setting records for the largest and longest-term issuance by a central enterprise [5] - The issuance of offshore RMB green bonds by Hungarian Savings Bank, supported by CITIC Securities, represents a significant step in promoting the internationalization of the RMB [5] Group 4 - The global asset allocation landscape is rapidly changing, highlighting the global investment value of RMB assets, which presents structural opportunities for cross-border wealth management [6] - CITIC Group has established a cross-border wealth management committee to enhance financial connectivity, focusing on bond and stock connections [6] - CITIC Futures International provides brokerage services for over 400 futures and options products across 29 major global exchanges, leading in key operational metrics among Chinese peers in Hong Kong [6]

Core Viewpoint - The launch of the Cross-Border Payment Link marks a significant innovation in cross-border payment services between mainland China and Hong Kong, facilitating efficient and convenient transactions for residents of both regions [1][2]. Group 1: Cross-Border Payment Link Overview - The Cross-Border Payment Link officially launched on June 22, allowing for "second-level" cross-border remittances between mainland residents and Hong Kong residents [1]. - The service connects the mainland's online payment interbank clearing system with Hong Kong's Fast Payment System, ensuring compliance with local laws while providing secure cross-border payment services [1][2]. - Six banks from each region are currently offering the Cross-Border Payment Link service, enhancing the efficiency and service level of cross-border payments [2]. Group 2: Transaction Limits and Use Cases - For Hong Kong ID holders, the daily limit for personal remittances is set at 10,000 HKD, with an annual limit of 200,000 HKD per participating institution, independent of the existing 80,000 RMB limit for the same name remittances [2]. - Mainland ID holders have an annual foreign exchange purchase limit of 50,000 USD [2]. - The Cross-Border Payment Link is expected to serve various practical scenarios, including salary payments, tuition fees, and medical expenses, thereby enhancing the integration of livelihoods between the two regions [2]. Group 3: Financial Cooperation and Market Integration - Recent years have seen fruitful results in financial interconnectivity between mainland China and Hong Kong, with numerous cooperative projects such as Stock Connect, Bond Connect, and Cross-Border Wealth Management Connect [3]. - A series of policies have been implemented to promote deeper integration of stock, bond, and financial derivative markets between the two regions [3]. - Collaborative measures from the People's Bank of China and the Hong Kong Monetary Authority, along with initiatives from the China Securities Regulatory Commission, have strengthened the ties between the financial markets of both regions [3].

Core Viewpoint - The signing of the "Shanghai-Hong Kong International Financial Center Collaborative Development Action Plan" aims to enhance cooperation and connectivity between Shanghai and Hong Kong, leveraging their complementary strengths as financial centers [1] Group 1: Collaborative Development - The Action Plan serves as a framework to optimize existing connectivity, expanding the range of products included, such as Real Estate Investment Trusts (REITs) and RMB counters [1] - The collaboration is expected to improve liquidity in both markets through enhanced interconnectivity [1] - Hong Kong is positioned to better serve mainland enterprises, facilitating their international ventures and providing essential services like risk management and legal support [1] Group 2: Digital Assets and Regulations - The Hong Kong "Stablecoin Regulation" was passed in May and will take effect on August 1, emphasizing the need for anti-money laundering measures and investor protection in digital asset regulation [1] - A second digital asset policy declaration is set to be released by the government, focusing on integrating digital assets with the real economy [1] - The possibility of stablecoins being pegged to the Renminbi is not ruled out, but it requires careful consideration of national exchange rates and monetary policy [2]