The Hong Kong Exchanges and Clearing Limited (HKEX) held its 25th anniversary celebrations in Hong Kong on Friday.

John Lee, chief executive of China's Hong Kong Special Administrative Region (HKSAR), said in a video address that serving as the fast-beating heart of Hong Kong's financial community, the HKEX has been instrumental in powering the city's rise these past 25 years.

Lee highlighted the HKEX's crucial role as a "super connector" and "super value-adder," linking the markets of the mainland and Hong Kong.

Despite global challenges, Lee reaffirmed the HKSAR government's strong commitment to working hand in hand with the HKEX and its regulators to boost market liquidity.

Paul Chan, financial secretary of the HKSAR government, said at the event that the transformation of the HKEX underlines Hong Kong's pivotal role in supporting the opening-up of the mainland's financial markets, and that its series of reform initiatives continues to unlock value and create fresh opportunities for market participants.

Bonnie Chan, HKEX chief executive officer, said that the HKEX remains firmly committed to continuous innovation and development, ensuring it is well-prepared for the future as it continues to influence global financial markets.

According to data from the HKEX, 31 initial public offerings were completed between the beginning of the year and June 20, raising over 88.4 billion Hong Kong dollars (about 11.26 billion U.S. dollars).