CMB Securities: Hong Kong capital market system continues to improve, creating conditions for the management of central state-owned enterprise market value.

The report from China Merchants Securities indicates that the system of Hong Kong's capital market continues to improve, providing a good market environment and opportunities for the market value management of Hong Kong-listed state-owned enterprises. The Hong Kong Stock Exchange continues to optimize its listing mechanism, introduce more innovative measures, enhance market attractiveness and competitiveness, and attract more high-quality global companies to list in Hong Kong. Meanwhile, the country will continue to support Hong Kong in consolidating and enhancing its status as an international financial center, strengthen financial cooperation between the two regions, and promote the development of financial market connectivity to a higher level. Hong Kong will also actively integrate into the national development strategy, play an important "window role" in the new development pattern of "dual circulation," and provide stronger support for Chinese enterprises to connect with international capital and achieve globalization through listing, mergers, and other means to achieve optimal resource allocation and value enhancement for high-quality development.