Hong Kong's Financial Secretary Paul Chan revealed in his blog that Hong Kong's IPO market was bustling over the past week as it welcomed the world's largest IPO YTD.

Hong Kong's IPO fundraising has already exceeded HKD76 billion YTD, more than seven times higher than the same period last year, and has reached nearly 90% of the total IPO fundraising for the entire 2024, Chan added.

HKEX shares gained 2.2% in morning trading.

In the face of current geopolitical challenges, China's stable and anticipatable policy environment, ongoing high-level opening-up, continuous breakthroughs in technological innovation, green transformation, and the digital economy, as well as accelerated development, have made it a key engine for global growth, Chan opined. Consequently, deepening ties with the Mainland is a huge advantage for Hong Kong's long-term development.