Group 1 - Hong Kong's capital market demonstrated exceptional resilience and institutional strength in the first half of the year, leading the global IPO fundraising with a total of approximately HKD 127 billion, a year-on-year increase of over six times [1] - A total of 53 new listings were recorded in the first seven months, surpassing the total fundraising amounts of each of the past three years [1] - The global IPO market saw only a 10% year-on-year increase in fundraising, with a 5% decline in the number of transactions, highlighting Hong Kong's leading position [1] Group 2 - Among the new listings, four raised over HKD 50 billion, and seven were "A+H" shares, collectively raising about HKD 77 billion, indicating Hong Kong's role as a key bridge between domestic and international capital markets [2] - The IPO market in Hong Kong is characterized by a diverse industry distribution, including sectors such as industrial, financial, consumer, healthcare, technology, media, telecommunications (TMT), and renewable energy [2] - The healthcare sector stood out with 10 companies successfully listed, raising a total of HKD 16.3 billion, with significant interest in innovative drugs and advanced medical technologies [2] Group 3 - International companies from Thailand, Singapore, and Southeast Asia have listed on the Hong Kong stock market, reinforcing its status as a preferred listing venue for international enterprises [3] - The active participation of international investors, including long-term funds and private equity from North America, Europe, and the Middle East, has contributed to a vibrant IPO market [3] - The retail market also showed strong engagement, with some new stocks experiencing multiple times oversubscription, enhancing overall market liquidity [3] Group 4 - The robust performance of the Hong Kong IPO market is attributed to long-term institutional innovations and policy support, including the expansion of the Stock Connect program and reforms in the listing system [4] - Recent measures include requiring at least 40% of shares to be allocated to cornerstone and institutional placements during IPOs, and introducing new public subscription mechanisms to enhance pricing and allocation stability [4][5] - These reforms aim to improve institutional robustness and facilitate effective capital allocation, fostering a balanced and trustworthy market environment [5] Group 5 - The capital market is a core engine driving Hong Kong's economic growth, with a real GDP growth of 3.1% year-on-year in the second quarter, supported by strong performance in financial and related services [6][7] - The Hong Kong government aims to continuously optimize institutional design and promote regulatory innovation to enhance market efficiency and competitiveness [7]