Hong Kong’s stock market sees surge in new listings and IPO fundraising in Q1

China

Hong Kong’s stock market sees surge in new listings and IPO fundraising in Q1

2025-04-04 14:51 Last Updated At：16:57

Hong Kong’s stock market saw a sharp rise in both the number of newly listed companies and the total IPO fundraising in the first quarter of the year, the latest data from the Hong Kong Exchanges and Clearing Limited (HKEX) showed.

The number of newly listed companies on the HKEX reached 16 in the first quarter, up 33 percent year on year, mainly covering such sectors as consumer goods, new energy vehicles, and medical and health care.

The funds raised by the listed companies on the HKEX also saw a significant increase. IPO fundraising in the first quarter reached about 18.214 billion Hong Kong dollars (2.34 billion U.S. dollars), surging 281 percent compared to the same period of last year.

"In the first quarter, Hong Kong's stock market saw rapid growth in the number of new IPOs and the funds raised, placing it among the global leaders. Companies in sectors such as consumer goods, new energy, and artificial intelligence have increasingly chosen to list on the Hong Kong exchange. This surge makes more investors to feel confident in the future growth of Hong Kong-listed companies and recognize the market's investment potential. The trend will further solidify Hong Kong's status as an international financial center," said Wang Kai, chief strategy analyst at Guosen Securities.

At the same time, an increasing number of listed companies on Chinese mainland’s A-share market are exploring dual listings in Hong Kong, aiming to expand their global presence and attract international investors.

Among the 16 newly listed companies in Hong Kong during the first quarter, one was already listed on the A-share market. Additionally, 33 more listed companies on the A-share market have announced plans to list on the HKEX this year. Many other such companies have chosen the global financial hub as the listing destination for their subsidiaries.

"Recently, more listed companies on the A-share market have shown the intention for dual listings in Hong Kong. Many of them are leaders in promising sectors. Listing in Hong Kong will help them accelerate their global expansion and tap into international markets. The dual listing will also enable them to leverage resources from both markets, facilitating easier fundraising and faster growth. Meanwhile, more international investors can get the opportunities to invest in and benefit from China's economic growth," said Yang Chao, chief strategy analyst at China Galaxy Securities.

Overlapping holidays boost tourism at China's film-themed attractions

Film-themed tourist destinations across China saw a surge in visitor numbers during the three-day Qingming Festival holiday, as the traditional festival overlapped with new spring break in several regions, creating a longer travel window and boosting domestic tourism.

The Tangcheng Film and Television Base in Xiangyang City in central China's Hubei Province, laid on extra events to take advantage of the overlapping holidays, resulting in a healthy rise in visitor numbers.

"During this year's Qingming holiday, we received a total of 71,800 visits, up 24 percent year on year compared with 2025. Thanks to the spring break policy this year, our peak tourism season started earlier than before. It also brought in more cross-provincial tourists to our scenic area, and both the visitor volume and the proportion of tourists from other provinces increased," said Wang Liang, general manager of the Tangcheng Film and Television Base.

To entertain the visitors, Tangcheng hosted a series of all-day interactive performances and themed programs, offering tourists an immersive experience built around traditional culture and film production settings.

Similar scenes were reported in east China's Zhejiang Province, where the Hengdian World Studios, one of the largest active film and television studios in the world, also welcomed a wave of tourists.

Family visitors, particularly parents traveling with children, were the main drivers of the tourism boom, according to the scenic area.

"We are here in Hengdian mainly thanks to the spring break. My child has worked hard at school so I think she can take a break here," a tourist said.

Local hospitality business operators in the area also noted visitor flows were significantly higher than in previous years, with family travel rising sharply.

Several provinces across the country introduced their first-ever spring break this year. The break typically lasts two or three days, but falls at different times. In some areas, the break comes just before the three-day Qingming Festival in early April, while in others it extends into the May Day holiday or is combined with weekends, resulting in a break of five to eight days.

The new vacation not only allows children to connect with nature in spring and reduces students' academic burden, but also creates a window for family travel, which is expected to boost tourism and consumption.