Chen Maobo: Hong Kong's new shares raised more than HK$76 billion so far this year, a year-on-year increase of over 7 times.

On May 25, Hong Kong Financial Secretary Paul Chan Mo-po posted in his blog that last week, two large-scale themed financial forums were held in Hong Kong, with a flourishing market fundraising activity. Guests from different fields from both domestic and overseas gathered in Hong Kong, and many seasoned foreign investors expressed their intention to increase asset allocation in mainland China and even the Asian region through Hong Kong. Additionally, the Hong Kong new stock market was lively in the past week, welcoming the largest IPO globally this year. The funds raised from Hong Kong new stocks this year have exceeded HK$76 billion, increasing more than seven times compared to the same period last year, reaching almost 90% of the total new stock funds raised last year. Paul Chan Mo-po stated that global markets were experiencing continued volatility, and the recent downgrade of the US sovereign credit rating triggered a sharp rise in US bond yields, once again drawing attention to the stability of USD assets and the need for risk diversification. Amid the uncertain global landscape, China has consistently maintained a high level of openness, providing international investors with a predictable and stable environment. Several major foreign banks currently visiting mainland China have expressed optimism about the country's development prospects and will continue to deepen their presence in the Chinese market, further increasing investments in China. With changes in the global trade landscape, supply chains are facing significant challenges but also presenting new opportunities. Mainland China is one of the world's largest metal markets, with a substantial demand for setting up warehouses in Hong Kong to support efficient delivery of non-ferrous metal trading. Since the beginning of this year, LME has included Hong Kong as a delivery location in its global warehouse network, and has already approved seven accredited warehouses. Furthermore, the inaugural International Patient Capital Forum organized by Hong Kong Investment Management Limited brought together patient capital institutions from 15 countries and regions globally, including Europe, the US, Japan, and the Middle East, encompassing sovereign funds, pension funds, university endowments, family offices, corporate venture capital and 80 other institutions in Hong Kong for exchanges. Collectively, these institutions manage assets worth over $20 trillion. The aforementioned patient capital managers generally have a positive outlook on the development of innovation and application markets in China and the Asian region, believing that it is a good time for investment and hoping to connect with more promising tech companies through Hong Kong investment companies. Many representatives from tech companies present at the event also indicated that they had encountered more potential investors and long-term capital, which would accelerate the connection between capital and tech companies, providing stronger support for technological research and development innovation. Additionally, on the last Friday, the regulation on company re-domiciliation officially took effect, allowing companies established outside Hong Kong to apply for re-domiciliation to Hong Kong in a more convenient and cost-saving manner. On the day the measure was announced, several large international insurance companies responded by announcing their re-domiciliation to Hong Kong. The market estimates that companies in industries such as shipping have the opportunity to progressively re-domicile to Hong Kong. It is worth noting that Hong Kong will see another significant development as the signing ceremony of the "Convention on the Establishment of an International Mediation Institute" will be held in Hong Kong this Friday. The headquarters of the International Mediation Institute will be located in Hong Kong, demonstrating the central government's strong support for Hong Kong to become a key center for international legal and dispute resolution services in the Asia-Pacific region. They will make every effort to build the International Mediation Institute and enhance Hong Kong's attractiveness in international trade activities, which will also benefit economic and trade cooperation among countries along the "Belt and Road" route, further consolidating and enhancing Hong Kong's position as an international trade hub. Paul Chan Mo-po pointed out that with the joint efforts of the Hong Kong Special Administrative Region Government, regulators, and the industry over the years, Hong Kong's financial system has established a strong buffer and resilience capability to withstand various external risks and impacts. International rating agency Fitch Ratings published a report last week affirming Hong Kong's strong credit fundamentals, maintaining Hong Kong's credit rating and "stable" outlook. From the outstanding performance of Hong Kong stocks this year, to more domestic and foreign companies setting up international headquarters, research and development centers, and regional offices in Hong Kong, all reflect the confidence of global investors and companies in Hong Kong. In the current changing global landscape, Hong Kong will continue to adapt flexibly, actively exploring emerging markets such as the Global South while strengthening its traditional market connections, highlighting Hong Kong's role as a "super connector" and "super value-adding entity" even more prominently.