Chan Mo-po: In the first two months of this year, the average daily trading volume of the stock market increased by 17% year-on-year, emphasizing investment in the future

During a speech at a financial services industry event, Financial Secretary Paul Chan stated that over the past two months, Hong Kong's financial market has continued to thrive, with the stock market's market capitalization approaching HKD 50 trillion, an annual increase of about 24%, and an average daily trading volume of approximately HKD 260 billion, up 17% year-on-year. He believes that looking back at the series of reforms the government has implemented since 2018 to enhance market competitiveness has been the right decision, allowing Hong Kong to benefit from technological innovation and breakthroughs. Therefore, the government must promote the development of the stock market with a "future-oriented perspective."

Regarding investment in the future, Chan emphasized the need to empower the high-quality development of the economy and industries through the mutual promotion and integration of "AI+" and "Finance+". He pointed out that the greatest reliance for AI development is always on talent, so in addition to fully attracting and cultivating talent, it is also essential to promote the widespread learning, usage, and effective utilization of AI among the public, enhancing the overall AI literacy of society. He encouraged the financial industry to actively embrace the wave of AI and keep pace with the times.

As for "Finance+", he stated that efforts should continue to strengthen and expand Hong Kong's financial market, providing comprehensive financing support for high-quality mainland enterprises going abroad, and assisting global companies in accessing the Asian market through Hong Kong. At the same time, Hong Kong should promote the financial market's support for the development of emerging and future industries, such as the aerospace industry mentioned in the Budget.

Additionally, financial services should leverage their own innovations to further assist the real economy in expanding and overcoming pain points. For example, technologies such as AI and blockchain, as well as innovative professional service demands for the valuation and risk assessment of intellectual property and data assets, are all areas with significant growth potential