Beijing firms in HK hit $13 trillion market cap: Christopher Hui

Close to 290 Beijing enterprises listed in Hong Kong now boast a total market capitalization of HK$13 trillion, highlighted by Secretary for Financial Services and the Treasury Christopher Hui Ching-yu on Tuesday.

The firms have raised a cumulative total of about HK$3.4 trillion. Hui shared the figures during the 29th Beijing Hong Kong Economic Cooperation Symposium. 

He said that Hong Kong continues to serve as a leading international financial center and a robust capital platform for mainland enterprises.

IPO and green finance boom 

Hui noted that initial public offering funds raised in Hong Kong during the first three quarters exceeded HK$380 billion, representing a year-on-year surge of more than 100 percent.

On green finance, the total volume of green and sustainable debt issued in Hong Kong exceeded US$76 billion (HK$592.8 billion). Arranged green and sustainable bonds amounted to some US$38 billion, ranking first in the Asian market for eight consecutive years.

Going global strategy 

Looking ahead, Hui said supporting enterprises to go global is a key task for both Beijing and Hong Kong. The government has established a dedicated task force to assist mainland firms in expanding their global footprint and encourages them to establish regional corporate treasury centers in Hong Kong through tax concessions.

He also encouraged Beijing enterprises to utilize Hong Kong’s established storage and delivery networks for commodities trading to enhance global market influence, aligning with the nation’s 15th Five-Year Plan.

Hui met with senior officials from the People’s Bank of China to discuss Chinese yuan internationalization, commodities market development, and financial talent grooming.

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