Economic Watch: Hong Kong to draw more capital on Asia wealth boom, tech IPO bonanza

by Xinhua writer Liu Yinglun

HONG KONG, Nov. 5 (Xinhua) -- More capital inflows are in the offing for Hong Kong as global investors increasingly look to mainland tech stocks listed in Hong Kong, as well as Asian assets at large, top financiers said at the Global Financial Leaders' Investment Summit concluding on Wednesday.

"Hong Kong is where it begins and ends if you believe in a market where investors will reward great companies and where dispersion matters," said Ted Pick, chief executive officer of Morgan Stanley.

Mainland companies in artificial intelligence, electric vehicle (EV) and biotech have listed in Hong Kong, raised capital and gone on to establish themselves as global winners, Pick noted.

In the first 10 months of this year, Hong Kong recorded 80 initial public offerings (IPOs), raising over 26 billion U.S. dollars, making the city a shoo-in for the biggest IPO market worldwide in 2025. Chinese EV battery maker Contemporary Amperex Technology (CATL) and data intelligence firm Mininglamp Technology are among investor favorites.

"China is one of the largest and most important economies in the world. Global capital allocators will continue to be interested in China in almost any environment," said David Solomon, chairman and CEO of Goldman Sachs Group.

He said Chinese equities "look very attractive" on a global basis, as a result of both the "DeepSeek moment" as well as the appeal of Chinese assets across global markets from a more normalized long-term view.

The larger context of investor confidence towards Chinese assets is the exciting developments of the Asian market as a whole. According to International Monetary Fund estimates, Asia will remain the biggest driver of global growth, contributing about 60 percent in 2025 and 2026.

Many at the summit predicted that closer trade and investment ties within Asian economies will add wealth for the region. This can translate to growth potential for Hong Kong -- Asia's financial hub and a gateway into the mainland market.

Michael J. Sacks, board chairman and CEO of alternative asset management firm GCM Grosvenor, said Hong Kong's structural advantages -- educated workforce, quality of life, rule of law, access to markets -- are unparalleled in the region.

With "one country, two systems" and Hong Kong's commitment to innovation, it will be an unstoppable force leading growth in Asia, he said.

Financial Secretary of the Hong Kong Special Administrative Region government Paul Chan said that, Hong Kong is poised to leverage its role as a two-way platform for trade, investments and technological collaboration, as a pivotal document outlining priorities for China's next five-year plan made pledges to expand high-standard institutional opening up and achieve greater self-reliance and strength in science and technology.

Hong Kong will strengthen its global outreach as many economies are actively seeking diversification in economies, markets, sources of capital and supply chains, he said. ■