The number of mainland Chinese companies listing on the Hong Kong Stock Exchange rose from 30 in 2024 to 76 in 2025, an increase of 153 per cent, according to PricewaterhouseCoopers. Hong Kong reclaimed the top global position for IPO fundraising last year, with 119 listings raising HK$285.8 billion, more than double the previous year. The numbers reflect a structural shift: as geopolitical barriers tighten in the United States and Europe, Chinese technology companies are using Hong Kong as a staging ground to raise international capital, test products against global standards, and build the credibility they need to expand beyond…