Group 1 - The Hong Kong Comprehensive Fund Platform, led by Hong Kong Exchanges and Clearing Limited and constructed with the participation of Shenzhen Securities Communication Co., Ltd., has officially launched its order transmission service [1] - This platform serves as a financial infrastructure for the Hong Kong fund market, connecting various participants in the fund distribution ecosystem and providing important information and order transmission functions for funds recognized by the Hong Kong Securities and Futures Commission [1] - The launch of this service is expected to significantly enhance the operational efficiency of the fund market and strengthen Hong Kong's competitiveness as an international wealth and asset management hub [1]

Core Viewpoint - The development of financial infrastructure is crucial for enhancing the competitiveness of Shanghai as an international financial center, with a focus on supporting the real economy, preventing financial risks, and promoting market innovation [1][6][11]. Group 1: Importance of Financial Infrastructure - Financial infrastructure serves as the backbone of the modern financial system, facilitating financial regulation, market openness, resource allocation, risk prevention, and product innovation [1][3]. - A robust financial infrastructure is essential for the high-quality development of financial markets and is a key component of financial system reform [2][4]. Group 2: Role of State-Owned Banks - State-owned banks, particularly the Bank of Communications, play a vital role in enhancing the financial infrastructure and supporting the development of Shanghai as an international financial center [10][11]. - The Bank of Communications aims to leverage its resources to enrich market participant structures and enhance market depth and activity [12][13]. Group 3: Tasks and Requirements for Financial Infrastructure - The elevation of Shanghai's international financial center requires financial infrastructure to provide efficient and diverse services, facilitating global capital allocation and supporting technological innovation [7][8]. - Financial infrastructure must also enhance risk prevention capabilities to ensure financial security and stability, particularly in the context of international financial activities [8][9]. Group 4: International Standards and Governance - The development of financial infrastructure should align with international high standards to participate effectively in global financial governance, promoting both inbound and outbound financial activities [9][14]. - Mechanisms such as "Bond Connect" and "Swap Connect" are examples of initiatives that enhance connectivity between domestic and international markets [9][14]. Group 5: Conclusion - Shanghai is positioned as a key node in the domestic and international economic cycles, with financial infrastructure development being critical for achieving high standards in market systems and facilitating comprehensive financial reforms [16].