HKEX(HK:00388) Jing Ji Ri Bao·2026-01-03 22:00Core Insights - Hong Kong's financial market demonstrated robust vitality and resilience in 2025, with record transaction volumes across multiple projects, leading to a significant increase in the IPO financing amount, which ranked first globally [2] Group 1: Market Performance - The average daily trading volume in the cash market reached HKD 230.7 billion in the first 11 months, representing a 43% year-on-year increase [2] - A total of 117 companies were listed on the Hong Kong Stock Exchange (HKEX) in 2025, raising a total of HKD 285.7 billion, with four companies making it to the global top ten IPOs [2] - HKEX-listed companies raised USD 66 billion through refinancing, highlighting the expansive nature of Hong Kong's capital market [2] Group 2: Factors Driving Growth - The first key factor is the surge in major technological innovations from mainland China, particularly in artificial intelligence, quantum information, biotechnology, new energy, and new materials, which have significantly boosted global investor confidence [3] - The second key factor is the facilitation of technology companies' access to capital markets, with HKEX modifying listing rules to ease the process for tech firms, including the launch of the "Tech Company Fast Track" in May 2025 [4] - The third key factor is the expansion of international financial connections, with HKEX attracting issuers from various regions, including Kazakhstan, Singapore, Thailand, and the UAE, and establishing new partnerships to enhance its global presence [5]