--- title: "CSRC: The special line for science and technology enterprises received 119 applications from unprofitable biotechnology and specialized technology companies last year" type: "News" locale: "en" url: "https://longbridge.com/en/news/279760102.md" description: "The China Securities Regulatory Commission released a quarterly report, indicating that Hong Kong's total IPO fundraising exceeded HKD 280 billion last year, ranking first in the world. Since the launch of the special line for technology companies in May last year, 119 applications from unprofitable biotechnology and specialized technology companies have been received. Last year, the average daily trading volume of the Hong Kong Stock Connect increased by 151%, with a cumulative net inflow of over HKD 5.1 trillion. In terms of digital assets, the managed assets of tokenized retail money market funds grew to HKD 8.66 billion, and the total market value of ETFs increased to HKD 618.7 billion. The net inflow of registered funds in Hong Kong grew by 118.5%" datetime: "2026-03-19T09:29:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279760102.md) - [en](https://longbridge.com/en/news/279760102.md) - [zh-HK](https://longbridge.com/zh-HK/news/279760102.md) --- # CSRC: The special line for science and technology enterprises received 119 applications from unprofitable biotechnology and specialized technology companies last year The China Securities Regulatory Commission (CSRC) published its quarterly report. In terms of IPOs, Hong Kong ranked first globally last year, raising over HKD 280 billion. Since the launch of the special line for technology companies in May last year, it has received a total of 119 applications from unprofitable biotechnology and specialized technology companies as of December, with 73 and 46 applications respectively. In the last quarter alone, 10 companies from these two sectors went public, raising over HKD 9 billion, an increase of 800% year-on-year. Last year, the average daily trading volume of the Hong Kong Stock Connect increased by 151% year-on-year to HKD 121.1 billion, with its percentage of the total trading volume in the Hong Kong market rising from 18.3% in 2024 to 24.2%. Since its launch in 2014, the net capital inflow of the Hong Kong Stock Connect has accumulated to over HKD 5.1 trillion as of the end of December. In terms of digital assets, the CSRC recognized tokenized retail money market funds, which have steadily grown in asset value to HKD 8.66 billion since their launch in 2025, with a quarterly increase of 14%. Additionally, since the launch of Asia's first virtual asset spot exchange-traded funds (ETFs) in 2024, a total of 11 such ETFs have been listed in Hong Kong, with a total market value skyrocketing by 142% to over HKD 5.4 billion. Benefiting from the rapid expansion of the ETF sector, including leveraged and inverse products, the asset and wealth management market continued to thrive in 2025. As of December, the total market value of ETFs and leveraged and inverse products recognized by the CSRC surged by 33.7% year-on-year to HKD 618.7 billion. In the last quarter alone, these products recorded a net capital inflow of HKD 9.2 billion, with their share of the trading volume in the Hong Kong market reaching 14%. Furthermore, the net capital inflow of funds registered in Hong Kong soared by 118.5% year-on-year to HKD 356.7 billion in 2025. As of December, the managed assets of these funds increased by 38.3% year-on-year to HKD 22.8 trillion, while the total number of funds rose by 9.1% year-on-year to 1,041 ### Related Stocks - [STECH.HK](https://longbridge.com/en/quote/STECH.HK.md) - [516500.CN](https://longbridge.com/en/quote/516500.CN.md) - [FBT.US](https://longbridge.com/en/quote/FBT.US.md) - [588860.CN](https://longbridge.com/en/quote/588860.CN.md) - [513130.CN](https://longbridge.com/en/quote/513130.CN.md) - [159506.CN](https://longbridge.com/en/quote/159506.CN.md) - [02837.HK](https://longbridge.com/en/quote/02837.HK.md) - [03174.HK](https://longbridge.com/en/quote/03174.HK.md) - [159316.CN](https://longbridge.com/en/quote/159316.CN.md) - [513930.CN](https://longbridge.com/en/quote/513930.CN.md) - [588130.CN](https://longbridge.com/en/quote/588130.CN.md) - [588250.CN](https://longbridge.com/en/quote/588250.CN.md) - [03069.HK](https://longbridge.com/en/quote/03069.HK.md) - [83088.HK](https://longbridge.com/en/quote/83088.HK.md) - [09088.HK](https://longbridge.com/en/quote/09088.HK.md) - [159992.CN](https://longbridge.com/en/quote/159992.CN.md) - [03067.HK](https://longbridge.com/en/quote/03067.HK.md) - [501009.CN](https://longbridge.com/en/quote/501009.CN.md) - [513120.CN](https://longbridge.com/en/quote/513120.CN.md) - [159849.CN](https://longbridge.com/en/quote/159849.CN.md) - [520690.CN](https://longbridge.com/en/quote/520690.CN.md) - [159102.CN](https://longbridge.com/en/quote/159102.CN.md) - [159892.CN](https://longbridge.com/en/quote/159892.CN.md) - [520880.CN](https://longbridge.com/en/quote/520880.CN.md) - [512290.CN](https://longbridge.com/en/quote/512290.CN.md) - [513260.CN](https://longbridge.com/en/quote/513260.CN.md) - [516820.CN](https://longbridge.com/en/quote/516820.CN.md) - [03088.HK](https://longbridge.com/en/quote/03088.HK.md) - [09069.HK](https://longbridge.com/en/quote/09069.HK.md) - [516930.CN](https://longbridge.com/en/quote/516930.CN.md) - [513700.CN](https://longbridge.com/en/quote/513700.CN.md) - [159859.CN](https://longbridge.com/en/quote/159859.CN.md) - [560600.CN](https://longbridge.com/en/quote/560600.CN.md) - [159837.CN](https://longbridge.com/en/quote/159837.CN.md) - [513060.CN](https://longbridge.com/en/quote/513060.CN.md) - [159615.CN](https://longbridge.com/en/quote/159615.CN.md) - [03033.HK](https://longbridge.com/en/quote/03033.HK.md) ## Related News & Research - [Ab&B Bio-Tech Starts Early-Stage Trials for High-Yield RSV Vaccine as Trading Remains Suspended](https://longbridge.com/en/news/286268861.md) - [Analyst Reiterates Buy on Microbix, Citing Temporary China Slowdown and Growing Diversified Demand](https://longbridge.com/en/news/286665358.md) - [Everest Medicines Director and Major Shareholder Raises Stake in Company](https://longbridge.com/en/news/286481551.md) - [HBM Holdings Says Director Probed by CSRC, Sees No Impact on Operations](https://longbridge.com/en/news/286197909.md) - [20:03 ETHarbour BioMed Announces Promising Preclinical Data for LET003, Its First AI-Enabled Drug Candidate](https://longbridge.com/en/news/286688082.md)