HONG KONG, May 18 (Xinhua) -- Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, said on Sunday that Hong Kong's IPO market has been exceptionally vibrant this year.

Chan said in his blog that while the Hong Kong stock market faced pressure in early April, it later rebounded. On April 16, the Hang Seng Index closed at 23,345 points, marking a cumulative increase of about 16 percent, outperforming other major markets. Market turnover has also increased, with an average daily trading volume exceeding 270 billion HK dollars (about 34.55 billion U.S. dollars) in April, 1.4 times higher than the same period last year.

Chan said that Hong Kong's IPO market is currently thriving. On May 20, the Hong Kong Stock Exchange will welcome the listing of a highly anticipated leading mainland new energy company, marking the world's largest IPO fundraising event so far this year.

Hong Kong's total IPO fundraising this year is expected to exceed 60 billion HK dollars, six times higher than the same period last year, temporarily ranking first globally in financing scale, he added.

Regarding bank deposits, statistics show that as of March this year, total deposits in Hong Kong banks approached 18 trillion HK dollars, with a cumulative increase of 3.5 percent this year.

Chan believed that the flow of international capital reflects investors' predictions and strategic positioning for future development, while also serving as a barometer of market sentiment.

In the face of an increasingly complex global environment, he emphasized that as long as Hong Kong remains steadfast in its goals, maintains openness and inclusivity, and leverages its unique advantages, the city will achieve high-quality development amid changing circumstances. (1 U.S. dollar = 7.81 HK dollars)