Laura Cha

Even as the city of Hong Kong has faced unprecedented uncertainty from political protests, Beijing’s new national security law, the coronavirus, and its role as a ground zero for escalating U.S.-Sino tensions, HKEX is having a good year. In August, the stock exchange operator posted a record half-year profit of $674 million, up 1% from the year before. In recent months, the bourse has emerged as an alternative to American exchanges for Chinese firms wary of Washington’s anti-China rhetoric. Since Cha became the first female chairman of the HKEX in 2018, the exchange has ranked No. 1 among IPO venues, when measured by proceeds. It will compete for the title again this year, since Ant Group, the Chinese fintech giant founded by Jack Ma, is planning to go public with listings in Hong Kong and Shanghai in what’s expected to be the world’s largest-ever IPO.

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