According to a report by China Daily on March 12…
Hong Kong is expected to play an expanding role as a global financing platform for companies from the Chinese mainland, helping them raise capital internationally and support overseas expansion while advancing the internationalization of the renminbi.
Speaking on the sidelines of China’s annual “two sessions” meetings, William Doo Jr, a member of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), said the city’s position as a global financial center and the world’s largest offshore renminbi hub provides unique advantages for cross-border financing.
Doo, who is also chief executive of Fungseng Prosperity Holdings Ltd, said Hong Kong’s deep pool of international investors and mature financial ecosystem makes it an ideal location for mainland companies seeking offshore funding.
“Hong Kong has long been an international financial center with a very extensive global investor base,” Doo said, noting that mainland companies can issue offshore renminbi bonds and access international capital through the city’s markets.
Hong Kong’s financial infrastructure—including global investment banks, international law firms and asset managers—supports a wide range of cross-border financing activities, helping Chinese companies expand abroad while promoting wider use of the renminbi in global markets.
The city’s stock market has also become a major gateway connecting mainland firms with international investors. In 2025, Hong Kong ranked first globally for initial public offerings, with 119 listings raising HK$285.8 billion ($36.5 billion). Companies from the Chinese mainland accounted for nearly 90 percent of the funds raised, according to exchange data.
Doo said overseas investors increasingly rely on Hong Kong as a platform to access China’s corporate sector.
“When mainland companies list in Hong Kong, international investors are able to participate in their growth in the Chinese mainland,” he said. “At the same time, listing in Hong Kong helps raise their global visibility.”
Hong Kong has also developed a range of policy frameworks to facilitate cross-border investment and renminbi internationalization. Programs such as the Bond Connect scheme link the mainland and Hong Kong bond markets, allowing global investors to trade Chinese debt securities more easily.
The city now processes roughly 75 percent of global offshore renminbi payments, reinforcing its position as the world’s leading offshore RMB center.
Beyond finance, Doo said Hong Kong could further deepen collaboration with mainland cities in sectors such as healthcare, biotechnology and traditional Chinese medicine.
Hong Kong’s first dedicated traditional Chinese medicine hospital began operations in December 2025, offering integrated treatment that combines Chinese and Western medical practices while serving as a teaching and research base for local universities.
Leading institutions such as the University of Hong Kong, the Chinese University of Hong Kong and the Hong Kong University of Science and Technology are already engaged in biomedical research and joint projects with mainland partners, including precision medicine and new drug development.
Doo said deeper integration with innovation centers such as Shenzhen within the Guangdong-Hong Kong-Macao Greater Bay Area could accelerate development of emerging health technologies and biotechnology industries.
Policy signals from Beijing also point to a larger role for Hong Kong in the coming years. China’s 2026 Government Work Report reaffirmed support for Hong Kong’s integration into the country’s broader development strategy under the “one country, two systems” framework.
The draft outline of the upcoming 15th Five-Year Plan (2026–2030) further highlights Hong Kong’s role in strengthening its status as a global financial center and offshore renminbi hub, while supporting its development as an international innovation and technology center.
“The role of Hong Kong is not only to integrate into the country’s development,” Doo said. “It is also to serve the country’s development in a more proactive way.”