Hong Kong ranks 1st in global IPO fundraising from Jan-Oct: chief executive

In the first 10 months of the year, Hong Kong recorded 80 IPOs, raising more than $26 billion and putting the city first in IPO fundraising worldwide, John Lee, chief executive of the Hong Kong Special Administrative Region (HKSAR), said on Tuesday, according to a transcript on the HKSAR government's news website.

Hong Kong's financial markets remain vibrant despite the uncertain global outlook. The stock market has soared more than 30 percent year-to-date, while average daily turnover has exceeded $32 billion, nearly double that of last year, Lee said.

The remarks were made in a speech that Lee delivered at the 2025 Global Financial Leaders' Investment Summit, which is running from Monday to Wednesday in Hong Kong.

About 300 global financial leaders, including more than 100 corporate heads, assembled in Hong Kong for the summit this year, according to a statement on the website of the Hong Kong Monetary Authority.

"Three years on, I am proud to say that Hong Kong now shines on the global stage, radiating prosperity, confidence and much-needed reassurance," Lee said.

To maintain the IPO fundraising momentum, Hong Kong authorities are pursuing reforms to the listing system, enabling the financing of overseas companies, enhancing trading and risk management efficiency, and promoting the trading of stocks in yuan.

Lee stressed the HKSAR's determination to establish Hong Kong as a global hub for digital assets. Hong Kong is working with our regulators on a future-proof regulatory regime, key to enabling the healthy and sustainable development of digital assets in Hong Kong. The city also offers sandboxes that allow promising fintech applications to be tested in controlled environments, he said.

The Asian Infrastructure Investment Bank(AIIB) on Monday announced its plan to set up an office in Hong Kong to address its growing business needs in the city.

Lee noted that as a committed member of the AIIB, Hong Kong "will do all we can to support its establishment of an office. That includes leveraging our vibrant capital markets, world-class professional services, and diversified products. We will also help the AIIB in project financing, bond issuance, investment management, and much more."

He added that the example of the AIIB's Hong Kong office is a shining example of how Hong Kong helps connect the world with the Chinese mainland market under the "One Country, Two Systems" policy.

Other Chinese officials also highlighted the HKSAR's advantage as a global financial center at the summit. Lu Lei, deputy governor of the People's Bank of China, the country's central bank, said that the bank will work with various departments to consistently support Hong Kong's development and construction, deepen financial market interconnectivity and practical cooperation between the two regions, and continuously strengthen financial support for the development of the Guangdong-Hong Kong-Macao Greater Bay Area, according to the Shanghai Securities News.

In September, the Canadian-based Fraser Institute ranked Hong Kong as the freest economy in the world. Also in September, the Swiss-based International Institute for Management Development, in its World Talent Ranking, rated Hong Kong fourth in the world and first in Asia. In the Global Financial Centres Index, Hong Kong was placed third in the world, just one spot below London and two below New York, according to Lee.