On the special occasion of the 74th Anniversary of the Founding of the People’s Republic of China and the 26th anniversary of the establishment of the HKSAR, I was honored to hold the National Day Reception at HKEX Connect Hall with election committee members of the financial services industry and 11 major associations. Mr. John Lee, Chief Executive, Mr. Michael Wong, Acting Financial Secretary, numbers of the LegCo, and people from the financial services industry were invited to serve as officiating guests. The reception was attended by more than 300 financial professionals and friends.

As indicated from the report of the 20th National Congress, it is necessary to accelerate the construction of a new development pattern, promote highquality development, deepen financial system reform, and strengthen the financial stability protection system. Mr John Lee, Chief Executive, expressed that the interconnection between Hong Kong and the mainland financial market has continued to deepen and expand with strong support from the State. We therefore hope that the financial services industry can provide useful suggestions for the future development of the Hong Kong securities market.

I indicated the fact that our country has made great strides and achievements in economic, technological, cultural, and other developmental aspects. In the face of current challenges, the industry must move towards diversified development and unite the forces that are conducive to the prosperity of our country and Hong Kong. I also spoke about the recent JPEX incident, and call upon the general public to resort to licensed institutions and reputable companies. For investment and financial management issues, we suggest that the general public seek advice from licensed individuals.

I would also like to express my appreciation to the government for the recent establishment of the “Task Force on Enhancing Stock Market Liquidity” to examine the primary internal and external factors that affect stock market liquidity, and propose short-, medium-, and long-term measures to enhance competitiveness and accelerate development. It is believed that Hong Kong will become more prosperous and stable, and the motherland will become stronger and more prosperous as the industry and SAR government continue to work together.