Tang Jiacheng: Global capital seeks diversified layout. Hong Kong's internal and external connections provide a "gateway" to Chinese opportunities.

On January 21, Charles Li, Chairman of the Hong Kong Stock Exchange (HKEX), spoke at a thematic roundtable meeting in Davos, stating that under the changes in global geopolitics and tariff policies, international investors are paying more attention to diversifying their investment portfolios and are showing increased interest in Asian markets, especially the Chinese market. Hong Kong, with its highly open capital market and connectivity advantages, provides a reliable "access point" for global capital seeking to tap into the growth story of China. Li mentioned that against this backdrop, the Hong Kong capital market has shown strong resilience. By 2025, the daily average trading volume of HKEX's securities market will reach almost HK$250 billion, significantly boosting market vitality, with the IPO market financing amount ranking first among global exchanges. The structure of the Hong Kong capital market continues to upgrade, resonating in sync with the pulse of the national economy - Chinese enterprises account for 65% of the companies listed on HKEX, contributing 70%-80% of the total market capitalization and forming the absolute backbone of Hong Kong stocks. In 2025, Hong Kong saw the addition of 119 new listed companies, two-thirds of which were new economy companies, covering cutting-edge fields such as artificial intelligence, advanced manufacturing, biomedicine, and clean energy. Regarding investment trends, Li advocates for long-termism. He points out that the innovation in clean energy and artificial intelligence has attracted considerable attention and funds, but when investing in these sectors, investors should carefully research the company fundamentals and prudently differentiate between long-term sustainable growth and short-term trends. Li stated that HKEX will continue to deepen its role as a super-connector, seizing the opportunities presented by the continuous growth of the Chinese economy, and will also focus on attracting more investors from around the world to participate in the Hong Kong market, connecting global capital with Chinese opportunities.