HONG KONG - Hong Kong Exchanges and Clearing Limited (HKEX) is expected to record its best year in terms of IPO fundraising this year since 2010, reinforcing Hong Kong's status as a global financial hub.

In a statement released on Thursday, HKEX predicted a 25-percent year-on-year rise in total initial public offering (IPO) fundraising volume so far this year, thanks to robust listings of new economy companies, which accounted for close to 60 percent of the total.

HKEX has had a very good year, and despite the challenging macro environment our business is thriving.

Charles Li Xiaojia, HKEX chief executive

An increasing number of money-starved new economy companies have turned to Hong Kong as the exchange adopted new listing rules to attract tech firms. Hong Kong has become the world's second largest biotech fundraising center.

"HKEX has had a very good year, and despite the challenging macro environment our business is thriving," said HKEX Chief Executive Charles Li Xiaojia.

The exchange also reported record revenues and other income of about HK$14 billion in the first three quarters this year, up 12 percent year-on-year.

ALSO READ: HKEX posts record H1 profit despite market turbulence

Looking back at 2020, HKEX said it rolled out new measures to improve both Stock and Bond Connect programs, launched MSCI Asia and Emerging Markets index futures and options products, unveiled plans to streamline Hong Kong's IPO settlement process with a new platform called FINI, and launched the Sustainable and Green Exchange (STAGE).

READ MORE: HKEX unveils plans to expand mutual market access

"I have every confidence that HKEX will continue to play a vital role connecting investors, corporates and markets around the world," Li said.