1、ASIFMA 2025 Asia-Pacific Capital Markets Survey2DisclaimerThe information and opinion commentary in this ASIFMA 2025 Asia-Pacific Capital Markets Survey Report was prepared by the Asia Securities Industry and Financial Markets Association(ASIFMA)to reflect the views of firms who participated in this

2、 Survey.The data,on which this Report and its conclusions were based,was gathered from participating firms between January and April 2025.ASIFMA believes that the information in this Report,which has been obtained from multiple sources,is reliable as of the date of publication.As estimates by indivi

3、dual sources may differ from one another,estimates for similar types of data could vary within the Report.In no event,however,does ASIFMA make any representation as to the accuracy or completeness of such information.ASIFMA has no obligation to update,modify or amend the information in this Report o

4、r to otherwise notify readers if any information in the Report becomes outdated or inaccurate.This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting,tax,legal or other professional advice.Please refer to your advisors for specific

5、advice.3About ASIFMAASIFMA(Asia Securities Industry&Financial Markets Association)is an independent,regional trade association comprising a diverse range of over 165 leading financial institutions from both the buy and sell side,including banks,asset managers,professional services firms and market i

6、nfrastructure service providers.Together,we harness the shared interests of the financial industry to promote the development of liquid,deep and broad capital markets in Asia.ASIFMA advocates stable,innovative competitive Asian capital markets that are necessary to support the regions economic growt