The Hong Kong stock market will continue to accelerate reforms to support innovative and high-growth companies as well as overseas companies to list in the special administrative region, Financial Secretary Paul Chan Mo-po said on Friday.

Speaking at the Year of the Horse market opening ceremony, Chan said that the accelerating technological advancements in areas such as artificial intelligence, life sciences, and quantum computing have profoundly impacted the development and valuations of stock markets.

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He also noted that the Hong Kong stock market has undergone several rounds of reforms to support the listing of innovative technology companies and align with the development of the new economy.

Chan noted that Hong Kong had a successful Year of the Snake, with the Hang Seng Index rising by nearly 6,500 points, up by 32 percent. “I remain cautiously optimistic for the year ahead. Like a fine horse, our market will continue its resilience and vigor despite all the challenges,” he said.

The international landscape remains complex and volatile, making fluctuations inevitable. But with the strong support from the nation and by continually advancing market reforms, enhancing market infrastructure and development, and effectively managing risks, the Hong Kong market is poised to overcome challenges, Chan said, adding that global investors are increasingly allocating resources to the Hong Kong market due to its open market environment and stable policies.

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Under the "one country, two systems" framework, Hong Kong will capitalize on its unique position as a dual gateway to enhance connectivity with both the Chinese mainland and international markets, and contribute to the country’s "15th Five-Year Plan" by supporting high-level openness and reinforcing its status as a dynamic international financial center, he added.