On the 17th, Hong Kong Chief Executive Carrie Lam delivered her fourth policy address during her tenure, titled "Deepening Reform, Caring for People's Livelihood, Leveraging Advantages, and Creating the Future Together". This year's policy address has deployed multiple measures around the two main axes of economy and people's livelihood. Experts believe that the policy address will introduce a combination of policies such as continuously strengthening the stock market, building an internationally leading bond market, and accelerating the establishment of an international gold trading market, which can enhance the attractiveness of Hong Kong's financial market to global investors and help consolidate and enhance its position as an international financial center. Hong Kong Legislative Council member Yan Gang stated that the series of measures to consolidate Hong Kong's position as an international financial center presented four highlights in this year's policy address: expanding capital market connectivity, deepening offshore RMB ecology, innovating financial products and infrastructure, and strengthening regional and international cooperation. The policy address proposes to assist mainland technology enterprises in financing in Hong Kong through the "Science and Technology Enterprise Special Line", and strengthen financial support for the country's construction of a strong technology nation. In addition, we will also promote the inclusion of real estate investment trust funds (REITs) as "interconnectivity" targets to improve the liquidity of REITs in both regions. To strengthen the global offshore RMB business hub function of Hong Kong, the Hong Kong Monetary Authority will establish a new "RMB business fund arrangement" through a currency swap agreement with the People's Bank of China, providing enterprises with RMB financing for trade, daily operations, and capital expenditures with longer maturities. At the same time, more RMB bonds will be issued. Innovative financial products and infrastructure measures have also received attention, including the establishment of the Hong Kong Gold Central Clearing System and regional gold reserve hub, expanding the types of digital asset products and services available to professional investors, strengthening pilot cooperation with the Guangdong Hong Kong Macao Greater Bay Area carbon market, and experimenting with cross-border transaction settlement pathways. The SAR government is also committed to deepening cooperation with the global capital market. The Hong Kong Stock Exchange will exchange and cooperate with exchanges in Southeast Asia to attract more Southeast Asian issuers to list in Hong Kong for the second time, and encourage more asset companies to issue products locally to facilitate the allocation of the Hong Kong market. The policy address proposes measures such as the "Science and Technology Enterprise Special Line" and "Different Rights for Same Stock" to optimize the listing mechanism and shorten the stock settlement cycle to T+1 in order to enhance market efficiency and attractiveness. Industry insiders believe that these measures are in line with the international mainstream market, which is conducive to reducing counterparty risks and accelerating capital turnover, attracting high-frequency trading and international investors, lowering the threshold for corporate listing and financing, and thereby enhancing the attractiveness of the Hong Kong financial market. Yang Yuchuan, Chief Macroeconomist of Huada Securities, said that establishing a regional gold reserve hub can enrich the functions of Hong Kong's financial market, enhance its influence in the global financial market, and be very helpful in strengthening its position as an international financial center. Yan Gang believes that building a central clearing system for gold and gold storage facilities can enhance the pricing ability of bulk commodities and attract funds from the Middle East, ASEAN and other regions to participate in Hong Kong's gold and asset trading. Industry insiders mentioned that the policy address proposes to optimize the "New Capital Investment Entrant Scheme" and provide tax incentives for funds and single family offices, which will attract global capital and high net worth individuals, enhance market liquidity, and consolidate Hong Kong's role as a wealth management center. Strengthening the role of internal and external connections. Ou Zhenxing, Managing Partner of Deloitte China South, believes that the policy address focuses on upgrading financial infrastructure, product innovation and interconnectivity, deepening the RMB ecosystem, and accurately matching market core needs. This not only significantly improves the efficiency of global capital flows, but also attracts more international investors to allocate RMB assets through deep linkage with the mainland market, better serving the overall development of the country. In the process of global wealth migration to the east and the rise of the global south, it firmly grasps opportunities and plays a unique hub value. Yan Gang mentioned that the development of the gold market and the shortening of settlement cycles complement each other. It not only serves mainland enterprises to "go global" and allocate global assets through Hong Kong, but also promotes international investors to participate in RMB asset trading through efficient infrastructure, consolidating Hong Kong's position as a cross market and multi currency financial hub. Sun Yu, Vice Chairman and President of Bank of China Hong Kong, believes that the series of measures proposed in the policy address will help further improve the market ecology, attract more funds to Hong Kong, strengthen Hong Kong's important platform role as a "going global" platform for mainland enterprises, and consolidate Hong Kong's attractiveness as a financial center and regional headquarters. The Chairman of the Hong Kong Securities and Futures Commission, Wong Tin Yau, stated that the commission will focus on regulatory flexibility and foresight to ensure the effective implementation of reform and optimization measures, while safeguarding financial security and enhancing the global competitiveness of Hong Kong as an international financial center; We will also strive to consolidate Hong Kong's traditional advantages in fundraising and internal and external communication, while pursuing innovation and diversified development, enabling Hong Kong, a leading global financial center, to flourish and play a key role in the country's high-level opening-up to the outside world. (New Society)