Group 1: Financial Market Connectivity - The Hong Kong government is committed to deepening the financial market connectivity between Mainland China and Hong Kong, promoting the two-way flow of funds, products, institutions, and talent [1] - Hong Kong plans to launch Mainland government bond futures and expand the investor eligibility for the Southbound Bond Connect to include more non-bank financial institutions [1] Group 2: Capital Market Growth - As of May 2023, the total market capitalization of the Hong Kong stock market reached HKD 40.9 trillion, a 24% increase year-on-year [2] - The average daily trading volume in the first five months of 2023 exceeded HKD 240 billion, more than doubling compared to the same period last year [2] - The amount raised through initial public offerings (IPOs) in the first five months of 2023 reached HKD 77.7 billion, a more than sevenfold increase year-on-year [2] - Northbound trading under the Stock Connect averaged RMB 176.08 billion daily, a 33% increase year-on-year, while Southbound trading averaged HKD 108.88 billion, a 191% increase [2] Group 3: Bond Market Development - Hong Kong is projected to be the largest international bond issuance center in Asia in 2024, with total issuance expected to exceed USD 130 billion, a 50% year-on-year increase [3] - The total issuance of offshore RMB bonds in Hong Kong reached RMB 1,071.6 billion in 2024, a growth of over 36% [3] - The Hong Kong government has included all local government debt securities issued in Hong Kong under the profit tax exemption, enhancing the attractiveness for local governments to issue bonds [3] Group 4: Liquidity Support Initiatives - Hong Kong has collaborated with the People's Bank of China to launch a RMB trade financing liquidity support scheme with a total quota of RMB 100 billion, aiding banks in providing cross-border RMB financing services [4]