The Hong Kong Stock Exchange has emerged as a prominent platform dominated by mainland Chinese companies, with approximately 1,478 such enterprises listed by the end of 2024. This significant presence underscores the market’s allure to Chinese mainland firms, accounting for over 80% of the exchange’s capitalization and nearly 90% of its daily trading volume. Irons Sze, a member of the Chinese People’s Political Consultative Conference (CPPCC), highlighted these statistics during a recent media briefing, emphasizing Hong Kong’s longstanding status as a global financial hub.

The city’s financial market has continually attracted Chinese mainland businesses, solidifying its position as a key player in the realm of international finance. Hong Kong’s resurgence in the Global Financial Centers Index, reclaiming the third spot by the close of 2024, further accentuates its pivotal role in the global financial landscape. Data from the Hong Kong Trade Development Council (HKTDC) reveals that by November 2024, Hong Kong ranked as the fifth-largest stock market in Asia and the eighth-largest worldwide, boasting a total market capitalization of $4.3 trillion.

Over the years, Hong Kong has served as a crucial offshore fundraising center for mainland Chinese corporations, facilitating capital raising activities to the tune of over $1.09 trillion from 1993 to 2024. Liang Haiming, chairman of the China Silk Road iValley Research Institute in Hong Kong, emphasized the city’s function as a conduit between Chinese and international markets, attracting global investors and financial institutions. The advent of financial technology has propelled Hong Kong towards digital transformation, fostering innovation and technological advancements.

The development of the Guangdong-Hong Kong-Macao Greater Bay Area has ushered in new avenues for growth, bolstering regional financial collaboration and resource sharing. Leveraging its strategic location and robust infrastructure, Hong Kong stands as not only a premier financial center but also a vital nexus for shipping and trade. The city’s tripartite status as a financial, shipping, and trade hub has flourished under the framework of the One Country, Two Systems principle since its return to Chinese sovereignty.

Hong Kong’s pivotal role in global trade is exemplified by its bustling ports, which handled over 13 million standard containers last year. The city’s maritime significance is underscored by its ranking as the fourth-largest international maritime center according to the International Shipping Centre Development Index 2024. With a commitment to supporting Hong Kong and Macao in their economic growth and international engagements, China’s central government aims to deepen cooperation and enhance the livelihoods of residents in these regions.

In conclusion, Hong Kong’s symbiotic relationship with mainland China and its unwavering commitment to economic development underscore its significance as a global financial powerhouse and a linchpin in international trade and shipping networks.