Chinese securities firms are competing for Hong Kong IPOs, highlighting the advantages of their investment banking business.

In 2025, the heat of Hong Kong stock IPO continues to rise, the financing scale returns to the top of the world, and Chinese securities firms have become the core driving force. Among them, institutions such as Citic Securities and China International Capital Corporation have performed outstandingly, with the top four Chinese securities firms accounting for more than 40% of the market share. Analysts believe that the core competitiveness of Chinese securities firms comes from their insights into Chinese companies and their synergies in the domestic and international markets, which are highlighted in the process of serving companies in A+H listings. Currently, many institutions are continuing to strengthen their domestic and international synergies through focusing on popular sectors to further consolidate their leading positions.