More Chinese Billionaires Going Public With Stocks in Hong Kong in 2018

The shift of funds out of China is pushing Hong Kong to the top of the global market for initial public offerings (IPO).

Xiaomi founder, chairman and CEO, Lei Jun (R), hits a gong at the company's initial public offering (IPO) launch on the Hong Kong Stock Exchange in Hong Kong on July 9, 2018. ISAAC LAWRENCE/AFP/Getty Images

Many Chinese companies are going to Hong Kong for initial stock sales, according to an study produced by KMPG, a global auditing service based in the Netherlands. The shift is pushing Hong Kong to the top of the global market for initial public offerings (IPO).

On Oct. 26, Rupert Hoogewerf published the Hurun Cash Out Rich List 2018 showing that Jack Ma — head of China’s biggest conglomerate — is selling off stocks to gain liquid assets.