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In the Capital Connectors series, exclusive interviews with six influential Chinese and global bankers reveal the opportunities and challenges for Hong Kong in its evolution as an international financial hub.
Hong Kong has become the fundraising venue of choice for Chinese technology giants, surpassing the US thanks to growing liquidity, market reforms and proximity to their home market, according to a senior banker at Goldman Sachs.
With Chinese technology firms being a clear focus of international investors and expanding globally, Hong Kong would continue to be a “big beneficiary”, said Jacky Leung, the bank’s head of Hong Kong coverage and co-chief operating officer of the technology, media and telecom group for Asia excluding Japan.
“Hong Kong remains the first and most important destination for Chinese companies to access offshore capital and expand globally, a trend we believe will continue,” he said.
The percentage of Chinese stocks in the portfolios of US and European investors had returned to the high single digits, edging closer to the peak of around 13 per cent in 2021, according to Leung.
“They are making money out of their investments, suggesting a healthy capital market,” he said.
