(Bloomberg) — More than 200 firms are lining up to go public in Hong Kong, adding to a strong year for stock sales in the Asian hub, the city’s top finance official said.

The IPO pipeline is “very strong,” Financial Secretary Paul Chan told Bloomberg Television in an interview from New York. “For mainland companies going global, using Hong Kong as a platform to raise the funds and to employ the talents to help them in their overseas expansion is a very good business proposition.”

Hong Kong has had a banner year for initial public offerings, as more Chinese firms list in the financial hub, and as stocks rebound from a multi-year slump. Equity sales — comprising IPOs, primary placements and block trades — raised the most in four years in the third quarter, data compiled by Bloomberg show. The three-month haul exceeded proceeds for all of 2024.

The market’s revived hype has attracted major listings, including battery maker Contemporary Amperex Technology Co. and Chinese miner Zijin Gold International Co.

Hong Kong stocks have surged since late last year after China reiterated support for the city, and as sentiment over China’s economy improves. The benchmark Hang Seng Index has gained 29% in 2025, among the world’s best performing developed markets.

Global investors are helping drive the rally, Chan said. Half of the trading is coming from Europe, the US, Middle East and Asia, with the other half from mainland China, he said.

The Hong Kong Monetary Authority is hosting another summit for global bankers next month. Several bank executives pulled out at the last minute from the inaugural event in 2022 due to Covid and US political pressure to not associate with Beijing and Hong Kong. It will be closely watched to see if geopolitics cloud the attendance this year.

At the moment, there are about 100 people at the chief executive officer or chair level who plan to attend, Chan said.

“The response so far has been overwhelming,” he said. “This is a must go event in Asia for business leaders.”

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