Hong Kong Exchanges and Clearing (HKEX) CEO Bonnie Chan Yiting warned of potential slowdowns in IPO activity due to global economic and geopolitical tensions despite a strong pipeline of over 300 companies waiting to list. The exchange saw CATL’s $5.3 billion IPO and Zijin Gold’s $3.2 billion fundraising. HKEX aims to diversify with fixed-income products.

Chan highlighted the HKEX’s efforts to attract new economy companies, particularly in electric vehicles, biotechnology, and AI, making up half of listing applicants. The exchange, along with the Securities and Futures Commission, introduced reforms to simplify listings and attract international firms and investors, leading to a surge in IPO activity.

The HKEX’s initiatives propelled it to the top of global IPO rankings in the first nine months of the year, with 66 companies raising $23.27 billion. The exchange aims to reclaim the annual IPO crown by 2025 with over 300 companies in the listing pipeline. The Hang Seng Index surged nearly 30%, driven by AI advancements in China and tech stocks, while trading volume rose 126%.

Chan emphasized the HKEX’s role as a “superconnector” between mainland China and international markets, offering diverse financing options beyond equities. The exchange aims to create a multi-asset platform by developing debt financing and commodity trading. This article originally appeared in the South China Morning Post (SCMP).

Read more at Yahoo Finance.: HKEX CEO Bonnie Chan says geopolitics and economic uncertainty may dim IPO outlook