IPO Connect pitched as Hong Kong’s next move to boost finance hub role. But hurdles loom

Hong Kong is seizing every opportunity to consolidate its role as a global financial centre, leveraging unique advantages and national strategies. This piece, the second in a miniseries focusing on the city’s financial industry ahead of the handover anniversary, explores the likelihood of an “IPO Connect” that could inject much-needed liquidity into the market and deepen international investors’ access to top-tier China assets.At every summer’s Lujiazui Forum, attended by China’s top financial regulatory officials, policy announcements are closely watched by Wall Street banks eager for deeper penetration into the Chinese market.The rivalry between Shanghai and Hong Kong is just as closely watched. Both have long vied to be Asia’s leading global financial centre, but since last year they have been urged to “join hands” and pursue “synergy” – often interpreted as Beijing’s way of dividing their work.