2025 has been a landmark year for the Hong Kong Special Administrative Region (SAR) as it witnesses one of the busiest listing seasons in recent memory. According to Drew Bernstein, co-chairman of global audit firm MarcumAsia, interviewed by CGTN's Wang Tianyu, Hong Kong SAR is increasingly emerging as a key alternative to US capital markets.
In the months leading up to December, the Hong Kong Exchanges and Clearing Limited (HKEX) has attracted a diverse mix of issuers—from Mainland technology startups to international renewable energy firms—and has seen robust trading volumes. Bernstein points to several factors driving this trend:
- Strategic location: As a bridge between the Chinese mainland and global investors, Hong Kong SAR offers unmatched access to Asia's fast-growing economies.
- Regulatory enhancements: Recent reforms have streamlined the IPO process, making it more flexible for companies of varying sizes and sectors.
- Investor appetite: Asian and overseas fund managers are boosting allocations to Hong Kong SAR equities amid volatility in Western markets.
For young entrepreneurs and tech enthusiasts, the surge in listings signals expanding capital-raising opportunities right in Asia's financial hub. Thought leaders and activists note that this growth also reflects Hong Kong SAR's efforts to balance economic dynamism with sustainable finance initiatives.
Sports and entertainment sectors are not left out: stakeholders anticipate more high-profile listings from e-sports platforms and entertainment startups, fueling the region's creative economy. Meanwhile, travelers and digital nomads see the SAR's robust connectivity and cosmopolitan vibe as an added draw, underscoring its role as both a financial and cultural gateway.
Looking ahead to 2026, Bernstein notes that with continued support from regulators and strong global interest, Hong Kong SAR stands ready to welcome the next wave of innovators and investors.
For global investors seeking alternatives to the US markets, Hong Kong SAR's 2025 listing boom offers a compelling case study in how regional strengths can reshape the international capital landscape.
Reference(s):
HK is emerging as key alternative to US markets: Global audit firm
cgtn.com
