Hong Kong Financial Centre Leans On Liquidity And Law To Compete With Rival Hubs

Hong Kong financial centre advantages in liquidity and law are in focus as the city competes with rival hubs in a volatile macroenvironment.

Bankers highlighted Hong Kong’s role as a fundraising hub, with the market raising HKD216bn (USD28bn) from IPOs in the first 10 months of 2025 and tipped by some to reclaim the top global listing spot, even though its stock market currently ranks only fifth worldwide by size.

Speakers at a recent Financial Times conference pointed to deep liquidity, Stock Connect links and a bilingual common-law legal system as key strengths for issuers from ASEAN, BIMSTEC and Gulf states.

They also cautioned that geopolitical and regulatory risks are rising but argued that the Hong Kong financial centre retains appeal through its ability to absorb volatility and policy shocks while channelling international capital into Asia.