Hong Kong IPO Pipeline Reaches Three-Year High on China Tech Listings
Eighteen A-to-H conversions and six new-economy issuers are filed with the SFC for H1 2026.
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Lisa Zhu covers Hong Kong capital markets, IPOs, and the cross-border financial ecosystem. She previously worked in equity capital markets at a global investment bank in Hong Kong.

Eighteen A-to-H conversions and six new-economy issuers are filed with the SFC for H1 2026.

The bilateral framework holds the Section 301 tariffs at the November 2025 levels.

BYD and CATL-shifted models dominate the order book; Russia remains a wild card.

The market is misreading the structural tools as cyclical disappointment.

PBOC, RBI, and Turkey's CBRT were net buyers in March for the 17th straight month.

Fed Funds futures now imply 1 cut in 2026 (down from 3 in January).

Stamp duty relief and inventory absorption drive the strongest quarter since 2021.

Three dual-class primary listings target a combined USD 7.5 billion raise.

The next cycle will be defined by infrastructure, not app features.