(ECNS) -- More than 500 companies are currently awaiting listing in Hong Kong, with many coming from fast-growing technology sectors, Hong Kong Chief Executive John Lee Ka-chiu said Tuesday.
Speaking at the HSBC Global Investment Summit held in Hong Kong Special Administrative Region (HKSAR), Lee said applicants include firms in artificial intelligence, semiconductors, robotics, autonomous driving and biotechnology.
The average daily turnover of Hong Kong stocks reached nearly $39 billion in March, rising 8% over the same period last year.
"Our IPO market remains in wonderful shape. As of end-March, fundraising had exceeded $14 billion, ranking first globally," he said.
Lee reiterated the role of the "one country, two systems" framework in supporting the city's financial development.
"China, our country, is the world's second-largest economy. It is fast rising as an innovation hub and a hotspot for entrepreneurs. It values multilateralism, and pursues peaceful resolution to problems that beset humanity," he said.
He added that investors are increasing their asset allocation in Hong Kong linked to the stable growth of the Chinese Mainland economy and the pipeline of new listings.
(By Zhang Dongfang)
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