HK tops global IPO rankings, strengthens support for 15th Five-Year Plan: HKEX chairman

Hong Kong has climbed to the top of global initial public offering (IPO) rankings and is set to further boost China's 15th Five-Year Plan (2026-2030), according to Carlson Tong, Chairman of Hong Kong Exchanges and Clearing (HKEX).

During a recent interview with China Global Television Network (CGTN) on the sidelines of the ongoing 2026 annual meeting of the World Economic Forum (WEF) in Davos, Tong said the Hong Kong stock market underwent a transformational shift in 2025, driven by surging capital inflows and heightened trading activity.

The city ranked first worldwide in IPO fundraising, raising around 36 billion U.S. dollars. Three of the world's top 10 IPOs were Chinese companies listed in Hong Kong SAR, highlighting the market's appeal to global investors.

"Hong Kong is the connector for China and the rest of the world. We attract global capital through Hong Kong into Chinese shares and vice versa. In fact, the Connect Scheme, where there's a special channel allowing overseas investors through Hong Kong to invest in Chinese A-shares, and also Chinese Mainland investors through Hong Kong to invest in overseas stocks; that trade volume has increased a lot. The Northbound Connect, which is overseas investors into A-shares, that went up to 41 percent. And the Southbound Connect, which is Chinese Mainland investors buying Hong Kong shares, went up 151 percent," said Tong.

Looking ahead, Tong said HKEX will play a more active role in supporting China's 15th Five-Year Plan, particularly in financing technological innovation and promoting the international use of the renminbi.

"Raising capital for Chinese technology companies is obviously one aspect of the 15th Five-Year Plan. And renminbi internationalization is something we're obviously looking at, where I think we can play a role. We're trying to introduce more renminbi products, but then you need people to use it. And I think now, as China opens up and people start to invest, and China invests in overseas and also overseas invests in China, then there will be increased demand in renminbi. So all these hang together, and we will play our part in pushing and promoting renminbi internationalization," he said.

With the theme "A Spirit of Dialogue," the 2026 annual meeting of WEF meeting opened on Monday and will run through Friday. About 3,000 leaders and experts from around the world are gathering to discuss five pressing global challenges, including enhancing cooperation, unlocking new sources of growth and deploying innovation at scale and responsibly.

HK tops global IPO rankings, strengthens support for 15th Five-Year Plan: HKEX chairman

Chinese authorities are set to open duty-free shops each at 41 listed ports of entry to the country, including airports, sea ports and land border crossings, aiming to facilitate tax-free shopping for inbound travelers.

Five government departments, including the Ministry of Finance, made the announcement on Wednesday. They defined port-of-entry duty-free shops as stores located within the restricted zones of airports, sea ports or land border crossings. Spread across the country, these stores will only offer duty-free goods to inbound international passengers.

Analysts say the move will boost consumption and promote the sustained growth of the duty-free retail sector.

Beyond China's natural scenery and cultural appeal, shopping in the country is becoming an increasingly integral part of international tourists' travel itineraries. China has also been expanding its visa-free entry policies and refining tax-refund-upon-departure services for international tourists in recent years.

China to opens 41 new entry-port duty-free shops