Core Viewpoint - The speech by Dr. Huang Tianyou emphasizes the importance of Hong Kong's role as a leading international financial center and the need for effective regulation to maintain market integrity and promote development [1][2]. Group 1: Market Resilience and Performance - Hong Kong's capital market has demonstrated resilience, maintaining orderly operations during global market volatility, with no occurrences of defaults or systemic risks [1]. - 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, a 270% increase [2]. - The average daily trading volume in the Hong Kong stock market increased by over 90% compared to the same period last year, with the 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 SFC encourages diverse issuers to participate in building a world-class fixed income market, which will facilitate corporate financing and meet various investor needs [2]. Group 3: Cross-Border Cooperation - The mutual connectivity between mainland China and Hong Kong has effectively promoted two-way capital flow, with mainland companies 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 expected to accelerate the construction of a strong financial nation and enhance financial openness [3]. - The SFC supports financial institutions based in Beijing to expand their business in Hong Kong, promoting talent mobility and sharing the benefits of market development [4].