Bloomberg and Huatai Securities: Navigating change in China’s financial markets

This year marks significant milestones for two organizations with deep roots in China’s financial evolution: Bloomberg celebrates over 30 years since establishing operations in mainland China, while Huatai Securities commemorates a decade since its landmark Hong Kong listing. Their parallel journeys offer unique perspectives on how the market has transformed and what lies ahead.

The evolution of China’s financial sector requires continuous adaptation from all participants. Success has required not just market connectivity, but deep local insights combined with global capabilities.

“Over the past three decades, the key has been to listen closely to evolving client needs and adapt solutions accordingly,” says Bing Li, Head of Bloomberg Asia Pacific at Bloomberg. “Progress comes from combining global perspective with local expertise.”

The dynamism of the region is reflected in recent market statistics:

• ETF turnover on the Hong Kong Stock Exchange reached a record HK$11.8 billion last year
• Net inflows into funds nearly doubled in 2023, despite volatile global conditions
• Hong Kong’s IPO volume is expected to double in 2025, with capital raised projected to exceed $22 billion
• The scale of wealth management in Hong Kong is set to reach $2.3 trillion by 2030

“These developments highlight the importance of international connectivity and the need for solutions that help investors respond to new opportunities,” says Li.

Broadening perspectives

China’s domestic financial institutions have increasingly looked beyond their borders. As China’s financial markets have matured, firms like Huatai Securities have mirrored the sector’s push toward internationalization and digital transformation.

Zhou Yi, CEO of Huatai Securities reflects: “China’s accelerated economic growth has propelled the financial industry toward further standardization and a faster pace of development. For Huatai, expanding internationally became a natural progression as the company’s business footprint grew and its understanding of the capital markets deepened.”

Like many of its peers, the company recognized early that bridging the gap with leading global investment banks would require a concerted focus on technology and operations.

“Internationalization is by no means easy. At the time, leading global investment banks had advantages in business systems, technology, and pricing power,” Zhou notes. “To bridge these gaps, Huatai focused on building platforms, developing teams, and restructuring business operations to better serve clients in cross-border transactions.”

Technology has been central to evolution in the sector. Data providers have rolled out analytics and workflow solutions designed to address increasing complexity, while securities firms have developed proprietary platforms. Huatai’s in-house trading and risk management systems — HEADS and CAMS — exemplify how domestic firms have built capabilities to support cross-border business and meet international investor expectations.

“The process of going global required Huatai to confront the expectations of international investors and the realities of global markets,” says Zhou. “Only by integrating into these markets and being tested by international capital could the company truly understand client needs and continue building core capabilities.”

Innovation and market integration

The paths taken by international and domestic firms demonstrate a shared focus on innovation, adaptability, and market integration. Global infrastructure providers and local institutions have found complementary roles, with technology platforms supporting market entry and enhancing the ability to serve clients with cross-border needs.

As Bing Li observes, “What sets this market apart is not just its scale, but the willingness of participants to embrace new ideas and technologies. The key is bridging gaps: connecting investors to data, insights, and infrastructure that support informed decisions in a rapidly evolving environment.”

The increasing complexity of markets has made the ability to scale and integrate systems across geographies a competitive advantage. Modern API integrations, multi-asset risk systems, and cloud­ based tools are being used by firms across the region to streamline workflows and enhance operational resilience — a priority as cross-border flows and market access programs like Wealth Management Connect expand.

“As internationalization accelerates, the ability to collaborate across borders and disciplines has become increasingly necessary. Markets works best when institutions share a commitment to transparency and innovation,” Li adds.

Future outlook

With China’s real economy transforming and more companies pursuing global ambitions, demand for cross-border financial services continues to grow. The market’s evolution presents both opportunities and challenges that require sophisticated approaches to technology, talent, and partnership.

“The transformation of China’s real economy, along with more companies seeking opportunities abroad, has increased the demand for global financial services,” Zhou Yi notes. “For Huatai, the international journey is ongoing, with continued focus on adaptability, technology integration, and collaboration.”

“The market evolution presents opportunities requiring sophisticated approaches to technology, talent, and partnership. Thoughtful engagement, grounded in experience but open to new ways of thinking, will be critical as China’s financial sector continues to integrate with global markets,” says Li.

As market participants mark these milestone years, their experiences serve as a blueprint for progress, demonstrating how innovation, partnership, and operational excellence can unlock opportunity in the next phase of Asia’s financial evolution. For financial institutions navigating similar paths, these stories underscore the importance of combining global capabilities with local insights, investing in scalable technology, and maintaining the flexibility to adapt as markets continue to evolve.