Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) has established itself as a vital international financial center, celebrating its 25th anniversary with significant growth in market metrics and a commitment to connecting China with global markets [1][2]. Group 1: Market Growth and Performance - Since its inception, HKEX has transformed from a local exchange to a leading global market operator, with average daily trading volume exceeding HKD 240 billion in 2023, a more than 17-fold increase from HKD 13 billion in 2000 [1]. - The derivatives market has seen even more remarkable growth, with average daily trading volume reaching 1.76 million contracts in 2023, compared to just 37,500 contracts in 2000 [1]. - The new stock market remains active, with HKEX completing 31 IPOs in 2023, raising over HKD 88.4 billion, solidifying its position as the world's leading fundraising market [2]. Group 2: Market Capitalization and Dividends - The total market capitalization of the Hong Kong stock market surged from HKD 3.92 trillion in March 2022 to HKD 40.93 trillion by May 2025, representing an increase of over 9 times [2]. - Total dividends distributed by Hong Kong-listed companies increased from HKD 907 million in 2000 to over HKD 13.5 trillion in 2024, marking a growth of more than 10 times [2]. Group 3: Strategic Initiatives and Future Outlook - HKEX has played a crucial role in facilitating the listing of mainland companies, attracting trillions in capital and enhancing the connectivity between the mainland and international markets [3][4]. - The exchange has implemented various reforms, including the introduction of the Stock Connect program, which has expanded to include bonds, ETFs, and interest rate swaps, with plans for further enhancements [5]. - HKEX aims to continue improving its market appeal and competitiveness, focusing on optimizing infrastructure and expanding its product offerings to support quality enterprises globally [5].