Hong Kong’s initial public offering (IPO) fundraising has reached HK$77 billion ($9.81 billion) so far this year, making the financial hub the top IPO market globally year-to-date and buttressing its status as a safe harbor for international capital, Financial Secretary Paul Chan Mo-po said Thursday.

Speaking at the S&P Global Market Intelligence Hong Kong Roadshow, Chan said investor confidence in Hong Kong continued to grow, with the city’s stock market gaining over 15 percent so far this year after rising 18 percent in 2024.

“The recent inflow of capital into Hong Kong has demonstrated that our fundamentals are robust and trusted by investors. We serve as a safe harbor for international capital,” Chan said.

He said the special administrative region’s efforts have the staunch support of the central authorities, which encourage leading Chinese mainland enterprises to list in Hong Kong.

“The IPO of CATL (Contemporary Amperex Technology Co Ltd), the world’s largest so far this year, is a shining example,” Chan said.

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In response to the recent global developments, Chan said he has given clear directions to the Securities and Futures Commission and the Hong Kong Exchanges and Clearing Ltd to facilitate the potential return of Chinese Concept Stocks currently listed abroad.

Chan also noted that, in the past couple of weeks, S&P, Moody’s, and Fitch have reaffirmed Hong Kong’s strong credit standing, maintaining its ratings and assigning a “stable” outlook.

“This optimism is underpinned by our robust fundamentals: Large fiscal reserves, sound external balance sheet, resilient monetary system, and a track record of transparent and effective policymaking,” he said.

Chan said that bank deposits now exceed HK$18 trillion after growing by 7 percent last year and an additional 4 percent this year.

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“We remain steadfast in the core values that define us: Openness, rule of law and global connectivity,” he said.

Under the “one country, two systems” principle, Hong Kong remains an open, international city and free port with an unfettered flow of capital, information, goods and talent, Chan said, adding that the SAR upholds the common law system and maintains an independent judiciary.

“Let me stress that our country, China, values these defining characteristics of Hong Kong,” Chan said.  “As a two-way gateway connecting China with the world, Hong Kong’s role is both unique and indispensable, for our own development, and for the good of our country as well.”

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Chan also said that the Hong Kong SAR government will soon release its second policy statement on virtual assets, focusing on integrating traditional financial services with innovation, expanding VA applications and enhancing its support for the real economy.

He added that the SAR’s campaign to attract global talent has received over 470,000 applications, and more than 200,000 individuals have already arrived in the city.

“And we are just getting started. Our goal is not just to build a talent pool, but to nurture a vibrant, diverse and innovation-driven community,” he said.