When Zhejiang Glass became the first privately owned mainland company to list in Hong Kong in 2001, it started a trend in the country's wealthiest province.
Since then, six other private firms have followed suit and that number is expected to double over the next year, judging by the enthusiasm displayed last month by a delegation of provincial officials and business leaders that attended a series of investment forums during Zhejiang Week in Hong Kong.
Among them were representatives of seven companies looking to take advantage of the Hong Kong stock market.
'Part of the reason is that we can raise a relatively large sum of money for our strategic development within a short period of time,' said Qiu Zhiming, the president of writing equipment maker Ningbo Beifa Group, which is still looking for a listing sponsor.
'It will take a longer time for the company to grow organically,' Mr Qiu added, summing up the motivation of all seven listing hopefuls, which are also keen to raise their brand profiles as well as funds.
Of the other six companies, Hangzhou-based Greentown Real Estate Group said it was still courting a listing sponsor, while Hangzhou Minsheng Pharmaceutical Group said it would appoint Citic Capital as sponsor for its 700 million yuan listing, planned for before early next year, and HSBC Holdings has been appointed by Hangzhou-based Henyi Man-made Fibre.
Conglomerate Modern United Holdings Group plans to spin off its logistics business to raise up to 500 million yuan, the same monetary target set by textile company Zhejiang Zhongbo. Stainless-steel furniture maker Ningbo Zhefeng said it planned to go public next year.
