On the 11th, the Hong Kong Stock Exchange released the "White Paper on the 10th Anniversary of Capital Market Interconnection between Mainland China and Hong Kong", which comprehensively reviews the development process of the interconnection mechanism in the past decade, analyzes the factors that have contributed to its effectiveness, and looks forward to the future development of interconnection. The white paper is divided into three parts: a ten-year development history, a review of ten-year highlights, and future prospects. The white paper shows that on November 17, 2014, the Shanghai Hong Kong Stock Connect was officially launched, creating a new model of capital market opening. In the past decade, with the joint efforts of the mainland and Hong Kong regulators and financial institutions, the connectivity mechanisms represented by the Shanghai Shenzhen Hong Kong Stock Connect, Bond Connect and Swap Connect have been continuously expanded and upgraded, laying a solid foundation for the coordinated development of the mainland and Hong Kong markets. The white paper introduces that in the past decade, interconnectivity has achieved significant results in multiple dimensions such as product coverage, transaction settlement mechanisms, and investor participation. It not only provides more convenient and efficient cross-border asset allocation channels for domestic and foreign investors, but also injects new liquidity and vitality into the capital markets of mainland China and Hong Kong. The white paper said that, as another important milestone of connectivity, the launch of Bond Connect connects international investors with China's fast-growing fixed income securities market, which not only helps the orderly opening of China's bond market, but also drives the development of Hong Kong's offshore RMB market ecosystem. The white paper states that as a key infrastructure operator in the Hong Kong financial market, the Hong Kong Stock Exchange will continue to work hand in hand with mainland partners and market participants to further enrich product categories and expand the scope of targets under the leadership of regulatory authorities in both mainland China and Hong Kong; Continuously optimizing the trading mechanism and supporting services of the Shanghai Shenzhen Hong Kong Stock Connect; Explore more measures that can enhance investor engagement and convenience; We will continue to improve arrangements for Bond Connect and swap links. (New Society)