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Financial and Monetary Affairs
Government departments continued to extend FPS payment functions to their bills. In December, FPS QR code devices were made available for use at designated counters and self-help kiosks of the Companies Registry, the Immigration Department, the Official Receiver's Office and the Transport Department, bringing the total number of government departments accepting payments through the FPS to seven.
Fund-raising Centre
Securities and Futures Markets
Hong Kong's securities market is operated by the SEHK and its futures market by the Hong Kong Futures Exchange (HKFE), both wholly owned subsidiaries of the HKEX. The city's stock. market capitalisation totalled about $47.5 trillion as at end-2020, fifth in the world and third in Asia, and equivalent to over 17 times Hong Kong's GDP. At the end of the year, 2,538 companies were listed on the SEHK, representing a wide range of industries from finance and property to consumer goods, information technology, biotechnology and telecommunications.
Stock Market Capitalisation
Chart 2
50,000
45,000
47,523
40,000
35,000
38,165
HK$ Billion
30,000
33,999
29,909
25,000
24,761
20,000
15,000
10,000
5,000
0
2016
2017
2018
2019
2020
Year
The Hong Kong market's liquidity and access to international investors are attractive to companies seeking to raise capital. At the end of 2020, 1,319 Mainland enterprises were listed on the SEHK, raising $7.3 trillion from the Hong Kong market since 1993. Funds raised by Mainland companies represented 99 per cent of initial public offering (IPO) equity funds raised in 2020. Apart from Hong Kong and Mainland companies, 15 non-local companies from Macao, Malaysia and Singapore were newly listed on the SEHK in 2020. The SEHK is working to accept companies from more overseas jurisdictions to list in Hong Kong.
The SEHK has ranked first for seven out of the past 12 years since 2009 in terms of equity funds raised via IPOs. IPOs in 2020 raised about $400 billion. There were 154 new listings during the year, including eight listing transfers from the Growth Enterprise Market (GEM) to the Main Board. In addition to new share issues, about $346 billion was raised on the secondary market,
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