Hong Kong Stock Exchange's Chen Yiting: More than 10 international companies are queuing for listing; will continue to optimize the listing framework in the future

Hong Kong Exchanges and Clearing (HKEX) CEO Charles Li mentioned during the Lunar New Year opening ceremony on February 20 that out of the 488 companies currently waiting to list in Hong Kong, more than 10 are international companies. Many of the mainland Chinese companies that listed in Hong Kong last year are highly internationalized, with some earning more than half of their revenue from around the world. HKEX will continue to optimize its listing framework to meet market needs.

He pointed out that in recent years, companies listed in Hong Kong have covered the hottest industries such as new energy, artificial intelligence (AI), electric vehicles, and biotechnology, including upstream, midstream, and downstream firms in the value chain. The Hong Kong stock market’s “shelf” is now filled with a variety of securities products for investors to choose from. HKEX will continue to launch more innovative derivative products. Additionally, international investors’ demand has expanded beyond stocks to include comprehensive allocations across bonds, currencies, commodities, and other asset classes.

HKEX is actively expanding its fixed income, currency, and commodities businesses, viewing these areas as the “blue ocean” of Hong Kong’s financial market. The goal is to build a complete ecosystem similar to the stock market, encompassing products, trading, clearing, data, and information services, to further grow the market and bring more opportunities for Hong Kong’s financial future.

Charles Li revealed that more than 20 new listings have occurred this year, raising over $10 billion, which is more than 25% of the approximately $38 billion raised in all of last year. The momentum for secondary offerings is also strong, accounting for over one-third of last year’s total, and he hopes this momentum will continue. He emphasized that many mainland Chinese companies that listed in Hong Kong last year are highly internationalized, with some earning more than half of their revenue globally.

Furthermore, Charles Li mentioned that HKEX acquired a stake in HKMA’s subsidiary, Sun Qing Settlement Holdings, at the end of last year. The company aims to strengthen its presence in fixed income, currency, and commodities, enriching the entire financial ecosystem, facilitating more diversified allocations for international investors, and continuing to expand the connectivity mechanisms.