The Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, recently released a blog post, taking stock of the economic situation in the first quarter of this year. The stock market experienced a correction but trading was active, the IPO market continued its strong performance last year, and the real economy also improved. Some areas even recorded significant results. Chen Maobo stated that due to external factors, the Hong Kong stock market experienced a correction in the first quarter. The Hang Seng Index has fallen by about 2% this year, but trading has been active, with an average daily turnover of over HKD 260 billion in the first two months, up 17% year-on-year. Entering March, the market has become more active, with daily trading volume of Hong Kong stocks exceeding HKD 300 billion, an increase of over 8% compared to the same period last year. This is reflected in the uncertain situation, where investors are increasing their asset allocation here. In addition to considering Hong Kong as a reliable safe haven for funds, they are also provided with numerous investment opportunities due to the stable growth of the mainland economy and the large number of high-quality enterprises listing in Hong Kong. At the same time, Hong Kong listed platforms play a key role in financing the development of cutting-edge technologies such as artificial intelligence, contributing to the country's technological development and modern industrial system construction, and attracting global capital to converge towards these future industries. As of March 27th, the fundraising amount has exceeded HKD 103 billion, ranking first in the world; Including subsequent financing, the total fundraising amount is approximately HKD 237 billion. At present, there are over 500 applications waiting for listing in Hong Kong. Chen Maobo stated that Hong Kong is using the "finance+" strategy to assist the country in developing new quality productive forces and actively contributing to the construction of the country's modern industrial system. Recently, Hong Kong has once again been confirmed as one of the top three international financial centers in the world, with New York and London ranking closely in the top two. This indicates that the sustained development of the mainland economy and strong support from the government for Hong Kong are the greatest confidence in Hong Kong's status as an international financial center. Chen Maobo also stated that the overall real economy in Hong Kong improved in the first quarter, with significant achievements in some areas. The value of commodity exports in the first two months of this year increased by nearly 30% year-on-year, showing an ideal performance. The foundation for the recovery of the retail market is quite clear. The total retail sales value in the first two months of this year increased by 11.8% year-on-year, recording growth for the tenth consecutive month. The increase is significantly faster than the fourth quarter of last year, indicating that local consumer confidence is gradually expanding positively. Online sales are also thriving, with a year-on-year surge of 27.5% in the first two months, driving the development of digital supporting industries such as electronic payments, logistics, and data analysis, injecting new momentum into the retail ecosystem. In addition, the labor market remained stable, with the unemployment rate slightly falling to 3.8%. Employment in the retail and catering industries improved, and overall employment income continued to rise. In addition, the improved atmosphere in the stock market and residential real estate market provided support for local consumption. (New Society)