A photo published on the website of the Hong Kong Special Administrative Region financial secretary on March 23, 2025 shows officials and delegates from Hong Kong held a meeting with artificial intelligence solutions provider AICT in Beijing. Photo: Screenshot of fso.gov.hk
Hong Kong's status as an international financial center has been continuously consolidated and enhanced, accompanied by the city's progress in developing a robust fintech ecosystem, Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) Paul Chan Mo-po wrote in a blog post on Sunday.
The Hong Kong Stock Exchange (HKEX) is processing more than 100 listing applications, including global leaders in the new-energy sector and the recently popular "little dragon" enterprises of the Chinese mainland, creating a vibrant atmosphere, said Chan.
Chan's remarks came after the 37th edition of the Global Financial Centres Index report was released on Thursday, which showed that Hong Kong retained third position in the rankings of 119 financial centers around the world and continued to lead the Asia-Pacific region.
Hong Kong's overall score significantly increased by 11 points compared with the previous report released in September 2024, further narrowing the gap with New York, the top-ranked city.
Particularly encouraging was the substantial 30-point rise in Hong Kong's fintech score, propelling its ranking up by five places to fourth globally, overtaking San Francisco, with New York, London and Shenzhen leading the fintech rankings, according to the report.
"This clearly demonstrates the gradual success of our efforts in recent years to develop a robust fintech ecosystem," said Chan.
China's artificial intelligence (AI) start-up Manycore Tech submitted a prospectus to the HKEX on February 14, according to a document seen on the exchange's website.
Manycore Tech thus became the first enterprise of the Hangzhou-based "Six Little Dragons" - DeepSeek, Game Science, Unitree Robotics, DEEP Robotics, BrainCo and Manycore - in the race for an IPO.
The beginning of this year has seen a strong rally in tech stocks, which has boosted the overall market's profitability. A significant amount of capital has flowed into Hong Kong stocks, which are considered a low-valuation area, Yang Delong, chief economist at Shenzhen-based First Seafront Fund, told the Global Times.
"The ongoing wave of technological innovation sweeping across the Chinese mainland is poised to breathe new life into Hong Kong's stock market, while simultaneously offering unprecedented opportunities to bolster the city's position as a global financial hub," Yang said.
Chan also said that a Beijing-based tech company that he visited, specializing in the application of AI in smart traffic management, autonomous driving and perception robotics, is preparing for a Hong Kong IPO, aiming to further expand its business into global markets.
Photos published on the HKSAR financial secretary's official website showed that the company is AICT, which is an AI solutions provider.
The company's leadership expressed plans to establish an international business headquarters and global research and development center in Hong Kong, Chan revealed.
"Moving forward, we will continue to strengthen promotional efforts in both traditional and emerging markets, encouraging enterprises worldwide to fully leverage Hong Kong's comprehensive fundraising capabilities and the dynamic innovation and technology ecosystem of the Guangdong-Hong Kong-Macao Greater Bay Area, accelerating business expansion and fostering mutual development," Chan noted.
This innovation surge has propelled numerous tech companies onto a rapid growth trajectory. As these enterprises increasingly opt for Hong Kong as their listing destination, they are set to inject a steady stream of high-quality assets into the city's financial markets, drawing heightened interest from investors worldwide, Yang noted.
