Our reporter Jiao Yue

　　Trainee reporter Li Wenshan

　　On January 13, the Hong Kong Stock Exchange of China released market statistics for 2021. The total turnover of the Hong Kong stock market and the trading volume of the Shanghai-Shenzhen-Hong Kong Stock Connect both reached record highs throughout the year.

　　Shanghai-Shenzhen-Hong Kong Stock Connect Turnover

　　record high

　　In 2021, the total turnover of the Hong Kong stock market will be HK$41.1 trillion, an increase of 28.2% compared with HK$32.1 trillion in 2020, a record high.

　　“2021 has been an exceptionally busy and fulfilling year for HKEX, with record turnover and first three-quarter results, and HKEX’s competitiveness and attractiveness as Asia’s leading international financial centre continues to increase. Although the global economy continues to be affected by Affected by the new crown pneumonia epidemic, Hong Kong's financial market still shows strong resilience and vitality." The relevant person in charge of the Hong Kong Stock Exchange told the "Securities Daily" reporter.

　　In addition, in terms of the Shanghai-Shenzhen-Hong Kong Stock Connect turnover, the performance is also very bright.

　　The total turnover of Shanghai-Shenzhen Stock Connect in 2021 will be 27.6 trillion yuan, an increase of 31% compared with the total turnover of Shanghai-Shenzhen Stock Connect in 2020 of 21.1 trillion yuan; the turnover of Hong Kong Stock Connect in 2021 will be 9.3 trillion yuan RMB yuan, an increase of 70% compared with the 5.5 trillion yuan in 2020 Hong Kong Stock Connect turnover.

The proportion of Southbound trading volume in the total trading volume of Hong Kong stocks continued to increase to 13.7%, a year-on-year increase of 3%.

　　Cen Zhiyong, a strategist at Bailihao Securities, told reporters: "The data reflects that mainland funds have become more active in the Hong Kong market."

　　"The A-share market has ample liquidity, so the ability to allocate Hong Kong Stock Connect has been enhanced. In 2021, some large technology stocks will be listed, which will stimulate the driving force of mainland funds to go south. At the same time, the increasing supply of social financing and M2 provides sufficient liquidity for the capital market. It will spill over to the Hong Kong market through the Hong Kong Stock Connect," said Shen Meng, executive director of Chanson Capital.

　　Kuang Yuqing, the founder of Lens Company Research, believes: "Last year, a large number of powerful Chinese concept stocks returned to Hong Kong for IPO, which promoted the increase in the amount of financing in the Hong Kong IPO market and the overall increase in market activity."

　　"At the same time, the pace of interconnection between the mainland and Hong Kong markets is accelerating, and the policies are constantly increasing, so the degree of integration between the two markets is higher. This connection will continue to increase in the future, and mainland investors will gradually be allowed to invest in the Hong Kong market through various channels. , international investors will also invest more in mainland stocks through Hong Kong, and the quota and scope of both parties will be further increased." Kuang Yuqing said.

　　Top 10 new shares issued

　　All mainland enterprises

　　According to the 2021 market statistics released by the Hong Kong Stock Exchange, there will be a total of 98 IPOs in the Hong Kong stock market in 2021, raising funds of HK$328.8 billion, which is a high level over the years.

The number of mainland companies listed in Hong Kong was 1,368, accounting for 53% of the total listed companies; the number of mainland companies newly listed in Hong Kong was 87, accounting for 89% of the newly listed companies.

　　In 2021, the top ten new shares issued in the Hong Kong market will all be mainland companies, with a fundraising amount of HK$188.35 billion; the amount of funds raised by mainland companies newly listed in Hong Kong will account for 98% of the total IPO funds raised in Hong Kong stocks.

　　In addition to the completion of the secondary listing of 5 technology Chinese stock companies, there are also two new energy vehicle manufacturers that have completed dual primary listings.

The two largest projects, Baidu and Bilibili, will return to Hong Kong stocks in March 2021, with Baidu’s IPO raising HK$23.94 billion and Bilibili’s IPO raising HK$23.23 billion.

　　A relevant researcher of Industrial Securities said, "The Hong Kong IPO market is still stable, mainly due to the return of Chinese concept stocks to the secondary listing, and the primary listing of new economy companies in Hong Kong. According to the fundraising structure, the proportion of new economy is continuously increasing, and information technology and healthcare together account for more than 60%.”

　　"In addition, in recent years, Hong Kong stocks have gradually formed a characteristic market dominated by new economy companies such as information technology and biotechnology, which complements the A-share market. The proportion of new economy companies has continued to increase, continuously attracting capital inflows from the mainland, and improving Shanghai, Shenzhen and Hong Kong. trading volume,” the researcher said.

　　Shun Zhiyong said, "From the data point of view, mainland companies have dominated the IPO market in Hong Kong."

　　"When foreign companies and local companies in Hong Kong have insufficient listing resources, mainland companies are the only force that can be relied on to support Hong Kong's status as a financial center. It is relatively difficult for companies from the mainland to IPO in Hong Kong to meet the requirements of A-share listings, while the Hong Kong market has The system is more flexible, which is conducive to its financing; in addition, some companies choose the Hong Kong market with more liquidity that meets their needs due to factors such as equity structure. The market will not form a relationship of direct competition, but more fully cooperate and form complementarity." Shen Meng believes.

　　Kuang Yuqing said: "Mainland companies that go to Hong Kong for IPO mainly focus on the return of U.S. stocks to secondary listings, and the technology Internet is relatively concentrated. Hong Kong is highly international in terms of market supervision and investor structure, and it is more closely integrated and linked with overseas markets. The ideal destination for the return of concept stocks, which is obviously complementary to the Shanghai and Shenzhen markets.” (Securities Daily)