[Paul Chan: Exploring Tax Incentives for Qualified Institutions Conducting Gold Trading and Settlement in Hong Kong] Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region Government, stated that following the signing of a cooperation agreement with the Shanghai Gold Exchange earlier this year and the establishment of a central clearing system for gold in Hong Kong, the government will: explore providing tax incentives for qualified institutions conducting gold trading and settlement in Hong Kong; assist the industry in forming an industry association to pool resources, enhance promotion, and expand connections with domestic and international counterparts; and help the industry understand the latest developments in the gold market, acquire relevant skills, and establish a training framework. Paul Chan also mentioned that to continuously optimize the securities market, attract issuers, and enhance market efficiency, the Hong Kong Stock Exchange (HKEX) will advance the following initiatives: in the first quarter, consult the market on revising listing requirements for companies with weighted voting rights, facilitating secondary listings for overseas issuers, optimizing the initial public offering (IPO) process, and providing greater flexibility for biotech and specialized technology companies applying for listings; implement improvements to the listing framework for structured products in the first half of the year and consult the market on specific implementation plans for promoting a 'T+1' settlement cycle; reform the board lot size for securities trading; and, in collaboration with the Hong Kong Securities and Futures Commission (SFC) and the industry, launch a paperless securities market system within the year.