The Financial Secretary of Hong Kong, Paul Chan, released an essay by the Secretary, in which he pointed out that the Federal Reserve cut interest rates by 50 basis points last week, the first time in more than four years. In addition, many major central banks in the world also cut interest rates earlier, strengthening financial marekt's expectation of a gradual decline in global interest rates. The loose financial environment is also conducive to the atmosphere of the asset market and the operating environment of the industry and commerce. Although under the linked exchange rate system, it can be expected that the trend of interest rates in Hong Kong will be roughly the same as that of US interest rates in the future, the speed and extent of the reduction will depend on the local capital flow and market conditions. In the context of a relatively favorable environment, it is even more necessary to further step up efforts to promote the Hong Kong market, and open up a wider and more diversified source of funds for the Hong Kong market when investment risk tolerance is gradually recovering and investors are chasing higher returns. Following the listing of the first exchange-traded fund (ETF) tracking Saudi Arabian stocks in the Asia-Pacific region in Hong Kong at the end of last year, the Saudi capital markets authority (The Capital Markets Authority) recently announced that it has approved the first ETF investing in Hong Kong stocks to be listed on the Saudi Stock Exchange, making it easier for local and Middle Eastern funds to directly invest in stocks listed in Hong Kong. Hong Kong will continue to step up promotion and promote more co-operation in both traditional and emerging markets. It is believed that when interest rates fall, it will be able to better leverage funds from different markets and inject new impetus into Hong Kong's capital markets.