(Reuters Breakingviews) - Hong Kong will rise again in at least one financial re...
Alibaba's Chairman and Chief Executive Officer Daniel Zhang, Hong Kong Financial Secretary Paul Chan and former Hong Kong chief executive Tung Chee-hwa attend Alibaba Group's listing ceremony at the Hong Kong Stock Exchange in Hong Kong, China November 26, 2019. REUTERS/Stringer ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT.
The Hong Kong stock exchange has ascended from a sleepy backwater to regularly contending for hot initial public offerings. Chinese state-owned enterprises have helped, including the last time it dominated with over $51 billion in new capital raised compared to $35 billion in the Big Apple, according to data provider Dealogic. Agricultural Bank of China was a big factor a decade ago, as was AIG-owned insurer AIA.
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