Hong Kong Airport Sees Record Air Traffic Growth in FY2024/25

Hong Kong International Airport (HKIA) saw significant growth in air traffic for the fiscal year 2024/25, with a 21.6% increase in passengers to 54.9 million, a 10.3% rise in cargo throughput to 5 million tons, and a 20.5% increase in flight movements to 373,050. The airport's air network expanded, with new routes and services introduced by 27 airlines, connecting to over 200 destinations. The three-runway system was commissioned on time, boosting capacity by 50%, and SKYTOPIA, a new destination for visitors and residents, was unveiled in January 2025.

Hong Kong's IPO market experienced a significant resurgence in 2025, with a substantial increase in fundraising activities, primarily driven by secondary listings from mainland China companies. According to S&P Global Market Intelligence data, the amount raised on the main stock exchange jumped more than eightfold to $49.2 billion in the first half of 2025, compared to $5.26 billion in the same period in 2024 [1].

The Hong Kong Exchanges and Clearing Ltd. (HKEX) hosted 210 IPOs and follow-on offerings in the January to June period, a notable increase from the 182 deals in the same period in 2024 [1]. This surge was fueled by follow-on offers from companies already listed on other exchanges, seeking to raise additional funds. Notably, on May 20, Shenzhen A-listed Contemporary Amperex Technology Co. Ltd. (OTC:CTATF), the world's largest battery maker, debuted on HKEX, selling 155.9 million H shares to raise $5.25 billion, the largest equity transaction so far this year [1].

Policy changes and market dynamics have contributed to this growth. The China Securities Regulatory Commission and the State Council announced new rules to improve the quality of new listings, encouraging mainland China companies to seek fundraising opportunities in financial centers like Hong Kong [1]. Hong Kong's Financial Secretary Paul Chan Mo-po emphasized that the recent inflow of capital demonstrates the city's robust fundamentals and trust among investors [1].

The HKEX and Hong Kong's Securities and Futures Commission jointly announced enhanced rules in October 2024 to shorten the IPO process, further elevating Hong Kong's attractiveness as a leading international listing venue [1]. This accelerated time frame for eligible A-share listed companies has been a significant draw for mainland Chinese companies seeking to list in Hong Kong.

The trend is expected to continue, with KPMG reporting 47 such listing applications received in the first six months of 2025, compared to only five in 2024 [1]. This includes at least 43 sizable A-share companies with market capitalization exceeding 10 billion Chinese yuan, providing a significant boost to Hong Kong's efforts to maintain its leadership in the global IPO markets by year-end [1].

References:
[1] https://seekingalpha.com/article/4801263-mainland-china-heavyweights-lift-hong-kong-top-ipo-destination