Hong Kong secured its position as the world's premier IPO fundraising hub during the first half of 2025, with Acting Secretary for Financial Services and the Treasury Chan Ho-lim revealing that 42 initial public offerings raised over HK$107 billion. This represents a 22% increase compared to 2024's full-year total. The milestone was announced during Chan's July 16 Legislative Council response to queries from legislator Starry Lee.

The city's capital market vitality stems from strategic reforms spearheaded by the government, Securities and Futures Commission (SFC), and Hong Kong Exchanges and Clearing Limited (HKEX). Recent innovations include bespoke listing mechanisms for weighted voting rights (WVR) technology firms and streamlined frameworks enabling dual-primary and secondary listings for overseas-listed companies. These measures have fueled unprecedented activity, with HKEX processing over 200 listing applications by late June—the highest volume since 2021.

Building on this momentum, HKEX and SFC are advancing further listing system enhancements to boost competitiveness. Key initiatives include: - Relaxed secondary listing thresholds for Greater China issuers - Removal of "innovative industry" requirements for specialized tech firms - Dedicated pre-application guidance through the "Tech Enterprise Hotline" - Confidential submission options for biotech and tech companies - Tiered public float requirements based on market capitalization

Overseas issuer accessibility has been expanded through simplified compliance standards and an expanded roster of recognized exchanges. Since 2023, Saudi Exchange, Indonesia Stock Exchange, Abu Dhabi Securities Exchange, Dubai Financial Market, and Thailand's Stock Exchange have joined the list, bringing total recognized venues to 20.

Approval efficiency improvements now ensure regulatory concerns are identified within 40 business days for standard applications, or 30 days for eligible A-share companies. Looking ahead, coordinated efforts will intensify global promotion of Hong Kong's listing advantages while exploring additional procedural simplifications for international enterprises.