Hong Kong Exchanges and Clearing (0388) chairman Carlson Tong Ka-shing said he remains cautiously optimistic toward the city’s initial public offering fundraising this year, despite mainland-listed companies’ ongoing interest in Hong Kong IPOs.

Speaking at HKEX’s Year of the Snake opening ceremony, he noted that the bourse operator is processing over 100 listing applications and that it received about 30 listing applications last month – of which 10 were from mainland listed enterprises.

In January, eight companies made their trading debut in Hong Kong, with an average daily turnover of HK$150 billion, Tong said, adding that Western investors have rejoined the Hong Kong market.

HKEX chief executive Bonnie Chan Yi-ting said it will continue reviewing all the rules and mechanisms of its Connect programs as well as enriching its products.