Chen Maobo: Hong Kong's economy has been growing for 15 consecutive quarters, and the first October IPO raised more than HK$400 billion, reaching a record high for the same period

The Zhitong Finance App learned that on November 13, Hong Kong Financial Secretary Chen Maobo attended the Sing Tao Global Economic Forum 2026 and delivered a speech. He said that Hong Kong's economy has recorded positive growth for 15 consecutive quarters, with a year-on-year increase of 5.2% in the third quarter, and a combined growth of 5.1% in the first three quarters, the fastest in the same period in five years. On the financial market side, 121 IPOs were listed in the first ten months of this year, raising more than HK$400 billion, a record high for the same period.

Chen Maobo pointed out that the export value of commodities rose 45.2% year on year in the first nine months of this year. Global demand for electronic products related to artificial intelligence was the main driving force, but the growth was not limited to electronic products. Exports of most major categories of goods recorded increases, and exports of traditional goods such as toys and clothing also increased 14% in the third quarter. Industries close to people's livelihood also stabilized. The total sales value of the retail industry increased by 8.3% in the first nine months, and visitors to Hong Kong in October alone increased 11.8% year-on-year.

In terms of SME support, Chen Maobo said that the HKMA and the banking industry have introduced three rounds of support measures since 2024, benefiting more than 118,000 SME cases, involving credit lines of over HK$267 billion; the special funds reserved by banks for SMEs have increased from HK$370 billion to over HK$450 billion. In addition, the funding scope of the “BUD Special Fund” was extended to Uzbekistan and Qatar starting this month to encourage enterprises to explore emerging markets.

Referring to the “Hong Kong First Five-Year Plan,” Chan Mao-po said that the plan is in line with the country's “15th Five-Year Plan” and has “four centers, one highland” as the main axis. In the financial sector, Hong Kong can play a unique role in the internationalization of the RMB, the construction of an international financial center, and the gathering of financial talents. The goal is to build an international financial center that supports the entire life cycle of enterprises, not only the stock market, but also fixed income, currency, and commodity markets. He mentioned that the Hong Kong Stock Exchange has taken a stake in Xunqing Settlement Holdings, with the goal of opening up bond and stock custody arrangements and releasing more liquidity.

In terms of innovation and technology, Chen Maobo pointed out that in 2024, the total cost of local innovation activities in Hong Kong exceeded HK$51.7 billion, equivalent to 1.63% of the gross domestic product. The “Hong Kong First Five-Year Plan” proposes to increase it to 3% by 2030. The three university towns of Xintian, Hung Shui Kiu and Daguling in the northern metropolitan area have a total planned area of more than 1,000 hectares. Three campus sites in Hung Shui Kiu University City were launched for college applications in September, and the development of Hetao is progressing at full speed.

Chen Maobo stressed that the current geopolitical situation is complex and changing, and many researchers and professionals are reconsidering development sites. They value a safe, stable and promising environment, and Hong Kong just has these conditions. Attracting talents depends on opportunities, and retaining talents depends on development. The foundation of the new situation has always been people.