Morgan Stanley's Zhang Xiaoyu: Trading activity in the Hong Kong stock market has significantly increased, with international long-term funds actively focusing on Chinese assets.

Facing the queue of nearly 500 IPOs in the Hong Kong stock market, Zhang Xiaoyu, Managing Director and Head of Asia-Pacific Equity Capital Markets at Morgan Stanley, judged: "The fundamentals of the Hong Kong stock equity financing market in 2026 remain stable, with strong sustainability, and market activity has significantly increased since the beginning of the year." At the same time, international long-term funds continue to focus on core assets such as China's AI industry chain and innovative drugs. "Whether it's IPOs or follow-up equity issuances, we see high-quality global long-term funds and sovereign wealth funds playing important roles as cornerstone investors and anchor investors, showing that international funds still have strong confidence in high-quality Hong Kong stock projects," Zhang Xiaoyu said in a recent interview with reporters.