来源：智通财经 智通财经记者 | 邹文榕 8月20日，香港交易所（00388.HK）发布中期业绩，2025年上半年收入及其他收益为140.76亿港元，同 比增长33%：股东应占溢利为85.19亿港元，同比增长39%。 香港交易所董事会宣布派发每股6港元的中期股息，同比增长36%，总派息76.08亿港元，相当于可供股 东分配利润的90%。 8月20日的业绩发布会现场上，港交所主席唐家成表示，"在市场利好气氛、投资者对非美元资产的兴趣 增加以及国际和内地投资者的参与愈趋活跃等因素带动下，2025年上半年（香港）证券市场平均每日成 交金额为2402亿港元，按年升118%；期货及期权产品的平均每日成交合约张数超过170万张，按年上升 11%；期内香港ETF市场持续显著增长，平均每日成交金额达338亿港元，较上年同期升184%。" 港交所行政总裁陈翊庭表示："香港交易所2025上半年表现非常强劲，录得有史以来最佳的半年业绩。 这一业绩超过了我们之前的历史最佳，也即2024年的下半年。" 图源：香港交易所 5月，宁德时代（03750.HK）在香港上市，集资410亿元，成为2021年2月以来香港最大规模的新股，也 是202 ...

Core Viewpoint - The Hong Kong Securities and Futures Commission (SFC) is adopting a strategy of "one shield and three arrows" to navigate the challenges and opportunities arising from global changes, including geopolitical complexities and US-China competition [1][3]. Group 1: Market Resilience - The SFC emphasizes the importance of a resilient market in the face of capital market volatility, which has become the new norm [3]. - The recent increase in US tariffs led to significant market declines, with the Hang Seng Index experiencing its largest single-day drop in nearly 30 years, yet the Hong Kong market demonstrated resilience through effective regulatory frameworks and risk management measures [4]. - The SFC has been closely monitoring market conditions and conducting stress tests on exchanges and intermediaries to assess risk management capabilities [4]. Group 2: Seizing Opportunities - Hong Kong is positioned as the third-largest international financial center, relying on proactive strategies to capitalize on emerging opportunities [6]. - In May, international funds significantly flowed back into A-shares and Hong Kong stocks, indicating a potential restructuring of global asset allocation [7]. Group 3: Three Arrows Strategy - The first arrow focuses on enhancing Hong Kong's core competitiveness as a top financing and wealth management center, with recent H-share listings, such as CATL, raising a record $5.3 billion [8]. - The second arrow aims to deepen connections between Hong Kong and both emerging and mature markets, expanding the scope of mutual access to include funds, ETFs, and derivatives [9]. - The third arrow emphasizes innovation through technology, including digitalization, blockchain, and generative AI, to maintain long-term competitiveness [11].