“超级联系人”和“超级增值人”：面对新加坡与迪拜，香港这样迎接挑战

Core Viewpoint - Hong Kong remains a leading global financial center, regaining its position as the top IPO market in 2025 despite competition from emerging financial hubs like Singapore and Dubai [3][7]. Group 1: Hong Kong's Financial Position - Hong Kong's IPO financing in 2025 returned to the top globally, showcasing its resilience as an international financial center [3]. - The city serves as a crucial platform for mainland Chinese companies to access international markets, acting as a "super connector" and "super value creator" [3][7]. - Hong Kong's financial system is well-developed, offering various financing options including private equity, venture capital, and bank loans tailored to different stages of business development [6]. Group 2: Competitive Landscape - Despite the rise of Singapore's financial capabilities, Hong Kong's total market capitalization remains 6-7 times larger than that of the Singapore Exchange [7]. - Companies from Southeast Asia, as well as regions like Kazakhstan and the UAE, are increasingly choosing to list on the Hong Kong Stock Exchange due to its liquidity, which ranks fifth globally [7][8]. - The IPO market in Hong Kong has seen a significant recovery since 2025, with emerging industries such as AI, new energy vehicles, and biomedicine leading the way [8]. Group 3: Global Financial Hub Status - Hong Kong is recognized as the largest offshore RMB business hub, the second-largest cross-border wealth management center, the third-largest exchange-traded products market, and the fourth-largest foreign exchange market globally [9].