It was learned from the Zhitong Finance and Economics App that the Hong Kong Association of Small and Medium Enterprises (referred to as the Association) held its establishment ceremony in Hong Kong on October 9, with representatives from more than 100 financial institutions and enterprises attending the event. The Association aims to help small and medium-sized listed companies improve their financing capabilities and market cap management level, achieving a dual enhancement of 'industry + capital value'. It is reported that in the future, the Association will coordinate the establishment of a Small and Medium Enterprises Alliance mutual fund, with sub-funds including IPO subscription fund, stock investment fund, and industry mergers and acquisitions fund, to jointly develop and grow with small and medium-sized listed companies.

At the event, Mr. Sunny Dong, Director of the Innovation, Technology and Industry Bureau of the Hong Kong Special Administrative Region Government, expressed that small and medium-sized enterprises have always been an important cornerstone of the global economy, hoping that the Association will help more small and medium-sized listed companies, especially start-ups, to grow stronger. Capital is a key element for the growth of small and medium-sized enterprises. Hong Kong, as an international financial center, is rapidly developing into an international innovation and technology center. With a sound financial system and investment ecosystem, it can provide diversified funding support for small and medium-sized innovative enterprises, accelerating their pace towards commercialization.

Mr. Meng Yu, Chairman of the Hong Kong Chinese Financial Association and Chief Executive of the Hong Kong Branch of Bank of Communications, stated that the establishment of the Association is timely, and is expected to establish a closer connection between high-quality small and medium-sized enterprises from Hong Kong, mainland China, and the mature capital markets of Hong Kong. This is not only an important complement to the development of the Hong Kong financial market, but also a strong impetus for small and medium-sized enterprises to enter the international stage, achieving a dual enhancement of industrial and capital value.

Mr. Xi Chunying, Chairman of the Hong Kong Association of Small and Medium Enterprises, stated that the Association will work with small and medium-sized listed companies in Hong Kong to build a high-quality communication platform, providing one-stop financial services for enterprises before, during, and after listing, striving to address the difficult issues of rising operating costs, expensive and difficult financing, insufficient innovation and development momentum, and unfamiliarity with capital market rules, adding new impetus to the high-quality development of enterprises.

It is reported that the Hong Kong SAR Government and relevant institutions have been enhancing market efficiency and liquidity, including optimizing the listing and financing rules for special technology companies, establishing a special task force to promote stock market liquidity, hoping to improve the financing convenience for small and medium-sized listed companies through reforms, and promote their long-term development.