Hong Kong’s financial markets have performed strongly this year, leading the world in IPO fundraising, Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) Paul Chan Mo-po said on Sunday.
He pledged further efforts to drive higher-quality and more diversified growth in the financial sector.
Since the beginning of 2025, IPO fundraising in Hong Kong has totalled nearly HK$150 billion ($19.2 billion), the highest worldwide, with increasing participation from long-term international investors, Chan highlighted in a blog post.
Market sentiment has also been upbeat, with the Hang Seng Index climbing over 30% so far this year.
Trading activity reached record levels, with average daily turnover surpassing HK$250 billion, Chan added.
During the first eight months of 2025, listed companies raised nearly three times more capital through refinancing than via IPOs, underscoring the depth and vitality of Hong Kong’s capital markets, according to the financial secretary.
These developments highlight Hong Kong’s strong position amid the technology-driven transformation of the global financial system, with firm national backing and joint efforts from the HKSAR government and the financial industry reinforcing the city’s role as a global financial hub, the blog noted.
Moreover, on Thursday, the People’s Bank of China announced fresh steps to boost financial connectivity between the mainland and Hong Kong, including allowing a wider range of offshore investors to engage in repurchase transactions in the mainland bond market and raising the daily quota for northbound trading to 45 billion Yuan, more than double the previous limit.
In recent years, Hong Kong has continued to broaden its financial openness, with a range of liberalisation measures creating greater opportunities for foreign capital inflows, Song Ding, a research fellow at the China Development Institute, told the Global Times.
Song added that supportive policies from the central government are helping to drive the strength and prosperity of Hong Kong’s stock and financial markets.
“The US Federal Reserve's recent rate cut and expectations of further easing are expected to drive more capital into Hong Kong, where growth potential is seen as stronger,” Song commented.
The latest Global Financial Centres Index revealed that Hong Kong has further closed the gap with New York and London, retaining its spot as the world’s third-leading financial hub and the top centre in the Asia-Pacific region.
The HKSAR also ranked first worldwide in categories such as “financial technology,” “business environment,” “infrastructure,” and “reputation and overall,” underscoring its rising international standing.