Paul Chan, Secretary for Finance of the Hong Kong Special Administrative Region Government, stated that to continuously optimize the securities market, attract issuers, and enhance market efficiency, the HKEX will advance the following initiatives:In the first quarter, consult the market on revising listing requirements for companies with “different voting rights,” facilitating secondary listings by overseas issuers, streamlining the initial public offering (IPO) process, and providing greater flexibility for biotechnology and specialized technology companies applying for listing; in the first half of the year, implement improvements to the listing framework for structured products and consult the market on specific implementation plans for promoting a “T+1” settlement cycle;Reform the standard trading lot size in the securities market and, in collaboration with the Hong Kong Securities and Futures Commission and the industry, launch a paperless securities market system within the year.