According to online reports, the Hong Kong Securities and Futures Commission released a report for the fiscal year 2024 - 2025, pointing out that as of May, the cumulative net capital inflow of Hong Kong Stock Connect exceeded 4.35 trillion yuan, and the southbound transaction volume accounted for 22.5% of the Hong Kong market turnover, reflecting the continued deepening of connectivity between mainland China and Hong Kong. The report pointed out that thanks to the reform measures launched last year, new listings and secondary market transactions rebounded, making Hong Kong once again the world's top fundraising platform. The tokenization of virtual assets and securities has accelerated over the past year, driving Hong Kong towards its goal of becoming a future financial hub. The Hong Kong Securities and Futures Commission released the "ASPIRe" roadmap earlier this year, aiming to promote the development of Hong Kong's virtual asset ecosystem. It later allowed two virtual asset exchange-traded funds (ETFs) to pledge. At the same time, since their launch in April last year, the total market value of the six Hong Kong-listed virtual asset spot ETFs has increased by 95%, and the average daily turnover has also increased by 16%. In terms of virtual asset trading platforms, the China Securities Regulatory Commission issued licenses to a total of 11 institutions.