The chief executive of Hong Kong Exchanges and Clearing (HKEX), Bonnie Chan, said on Thursday the city's fundraising and capital market boom had not abated at all this year, with more funds pouring into the technology and innovative fields.

Speaking at the HKEX Future Tech Summit in Shenzhen, she noted the amount of funds raised from initial public offerings reached HK$160 billion in the first five months of the year.

Chan also noted there's been a structural shift in the city's equity capital market that is seeing the technology sector now account for 44 percent of the total market capitalisation, compared with about 15 percent 10 years ago, while the turnover for shares in the segment rocketed sevenfold during the period.

“This shows that investor attention is continuing to shift towards the sectors with the highest growth potential," she told participants.

"Hong Kong's capital market is gradually transforming from a financing platform for the traditional economy to one that's driven by technology and the new economy.

”We are confident that we can provide a deeper, more dynamic and more forward-looking capital market platform for global investors and technology enterprises."

Chan also noted that 10 companies have listed in the SAR in the first five months of the year via the Chapter 18C rule, which allows large tech firms to list even if they have made no revenue.

The companies, which hail from industries such as robotics, autonomous driving, artificial intelligence and aerospace, together raised more than HK$25 billion.

Looking ahead, Chan believed China's tech breakthroughs, especially in artificial intelligence, would offer "in-depth" growth opportunities for global investors as the advances are backed by the country's rapidly growing tech ecosystem and infrastructure as well as energy supply.

Speaking at the same event, Stephanie Lau, managing director and co-head of IPO vetting at HKEX, said regulators had received "positive feedback" over its proposals to reform the city's listing regime following a consultation.

Authorities, she added, aimed to publish the results of the consultation by the end of the year.

The HKEX proposals include expanding the confidential filing option to all new listing applicants and lowering the threshold for firms to list under the weighted voting rights, as the city's bourse operator aims to enhance its competitiveness in the global fundraising market.




Edited by Tony Sabine