Hong Kong's Financial Secretary, Paul Chan Mo-po, stated that the government currently anticipates steady economic progress for Hong Kong this year. Specific growth forecasts will be announced in next month’s fiscal budget.
According to Zhitong Finance APP, Paul Chan Mo-po, Financial Secretary of Hong Kong, stated that the government currently expects Hong Kong's economy to progress steadily this year. Specific growth forecasts will be announced in next month’s fiscal budget. He also noted that it will take time for the robust performance of Hong Kong's financial markets to extend to a broader range of industries. He pointed out that sectors such as retail and catering have stabilized recently, even showing slight growth. Industries need to innovate and transform; if policy support is required, relevant expectations can be proposed. Chan anticipates that Hong Kong's Initial Public Offering (IPO) market will see steady progress this year, with cautious optimism. The IPO fundraising amount is very likely to surpass last year’s figure. He believes that mainland enterprises choosing to list outside the United States will find no better alternative than Hong Kong. The current pipeline for companies awaiting listing remains strong, particularly among technology and frontier tech firms.
He further mentioned that the Hong Kong Stock Exchange will consult the market on implementing a 'T+1' settlement cycle in the first half of the year. Regarding Nasdaq’s plan to extend trading hours from 16 to 23 hours per day over a five-day week, Chan said that financial competition is global and that Hong Kong will closely monitor developments at exchanges. However, he believes it is premature to decide whether Hong Kong should follow suit.
Regarding Venezuela’s political instability, during an exclusive media interview, Chan stated that Hong Kong’s investments in Venezuela are extremely minimal. Nevertheless, he emphasized that Hong Kong must remain vigilant. Under the principle of 'one country, two systems,' Hong Kong could be affected by geopolitical dynamics. Therefore, contingency plans for the financial market were prepared years ago, taking into account Hong Kong’s role as an international financial center for the nation. Should any situation arise, regulatory authorities on the mainland would provide significant support to Hong Kong.
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