Chen Jing, Executive Director of the International Investment Banking Department of China Securities Co., Ltd.: The position of Chinese Stocks in the asset allocation of global investors is continuously rising.

At the "Tide Rises in the Fragrant Harbor, Jointly Creating Win-Win – Special Seminar on the Integration and Development of Shenzhen-Hong Kong Capital Markets and Listing in Hong Kong," Chen Jing, Executive Director of CSC's International Investment Banking Department, stated that currently, the valuations of A-shares and Hong Kong stocks are still lower than those of major global markets. The position of Chinese Stocks in the asset allocation of global investors has risen, especially the attractiveness of Hong Kong stocks continues to increase. Data shows that by 2025, the average first-day increase of IPOs in Hong Kong is expected to exceed 10%, with the current average increase approaching 32%. The profit-making effect has stimulated investor enthusiasm for subscriptions, and the subscription multiples for Hong Kong IPOs continue to rise.