Key Takeaways:
Hong Kong Exchanges & Clearing chief Bonnie Chan called Chinese assets' revaluation historic, citing HK$340 billion of listings as global funds rotate into the market.
"We are seeing a growing number of international investors diversify their portfolios and turn their attention to China, where growth prospects are more certain," Chan said Sept. 8 at the China Opportunities Forum in Shanghai.
The exchange reported 104 companies listed in Hong Kong through August, raising more than HK$340 billion — already topping the full-year total for 2025. Three of the world's five largest initial public offerings this year chose Hong Kong, with issuers from Southeast Asia and the Middle East increasingly selecting the city. Average daily turnover exceeded HK$280 billion in the first eight months, up 14 percent from a year earlier, holding near historically high levels.
Chan outlined four strategic pillars to cement Hong Kong's role as the bridge between Chinese assets and global capital: deepening the secondary-market ecosystem, expanding offshore renminbi, fixed income and commodities products, sharpening the international fundraising platform, and building future-ready market infrastructure. China's economy is undergoing a profound transformation and the China opportunity is constantly evolving, she said, adding that one of Hong Kong's greatest strengths is its ability to connect those opportunities with global capital.
International cornerstone participation in Hong Kong IPOs has reached a multi-year high, Chan said, with long-term capital from the Middle East, Europe, North America and the Asia-Pacific region growing beyond traditional Asian investors. That reflects recognition of the long-term value of Chinese innovative enterprises, she added.
The revaluation claim rests on more than listing volumes. Eastspring Investments, in a summary of its inaugural China Investment Summit, said China's equity market — long viewed as policy-driven and highly cyclical — has drawn renewed interest as management focus on dividends, cash flow, buybacks and corporate governance converges with structural growth. Rising participation from southbound flows and long-term allocation funds has supported the shift, the asset manager said.
A- and H-share markets offer complementary access, Eastspring said. A-shares expose investors to advanced manufacturing and domestic cyclicals at more domestically driven valuations, while H-shares capture high-dividend state-owned companies priced against global benchmarks and more sensitive to international capital flows.
The test is whether the flows outlast the current cycle. Chan said the exchange will keep investing in market infrastructure to deliver a more efficient and resilient environment, betting that Hong Kong's position sustains fundraising momentum into next year. The strong IPO performance echoes global capital reallocating toward Chinese assets, with multiple large enterprises choosing Hong Kong partly because of the exchange's strategy in attracting new-economy and international issuers.
This article is for informational purposes only and does not constitute investment advice.
