Chen Maobo: The total amount of funds raised by new stocks in Hong Kong has reached nearly HK$150 billion, ranking first in the world.

The Financial Secretary of Hong Kong, Chen Maobo, stated in his blog that the performance of the Hong Kong financial market has been impressive this year. For example, the total amount of funds raised by new stocks is close to 150 billion Hong Kong dollars, ranking first globally, and there has been a noticeable increase in the participation of international long-term funds. The atmosphere in the Hong Kong stock market is flourishing, with the Hang Seng Index rising by over 30% year-to-date; trading volumes have reached record highs, with daily average turnover exceeding 250 billion Hong Kong dollars. In the first eight months of this year, the amount of refinancing by listed companies is nearly three times the amount raised by IPOs, reflecting the depth and vibrancy of the Hong Kong market. He also pointed out that the active new stock market, the influx of funds, and the flourishing trading have also benefited the performance of A shares, leading to a positive linkage effect between the capital markets of Hong Kong and the mainland.