Photo shows guests attending a ceremony of Alibaba's debut on the main board of Hong Kong stock exchange in Hong Kong, south China, Nov. 26, 2019. Photo:Xinhua

Chinese mainland companies are rushing to launch IPOs in Hong Kong, with TikTok rival Kuaishou reportedly joining the trend, despite US President Donald Trump claiming that "Hong Kong will not be a successful exchange anymore."

Kuaishou is eyeing an IPO in Hong Kong, aiming to raise $50 billion, media reports said Wednesday. The short video platform refused to comment when reached by the Global Times.

Launched in 2013, Kuaishou had about 430 million monthly active users by the end of June this year, while its main domestic competitor Douyin (the Chinese version of TikTok) boasts more than 500 million, according to Shanghai-based data analysis agency CBNData.

Chinese express delivery company ZTO Express announced on Wednesday that it is seeking a secondary listing in Hong Kong and will issue 45 million new ordinary shares, according to a statement posted on the US Securities and Exchange Commission.

With the central government's steadfast support for the Hong Kong Special Administrative Region and a convenient stock exchange connect mechanism with Hong Kong, the city is expected to see more mainland companies list in the exchange.

On September 8, Hangzhou-based bottled water giant Nongfu Spring listed in Hong Kong, raising approximately HK$8.35 billion ($1.08 billion).

US-listed Yum China, the operator of KFC and Pizza Hut, is also reportedly eyeing a $2 billion secondary listing in Hong Kong, while Alibaba's fintech arm Ant Financial filed for a blockbuster dual listing in the Hong Kong market and the STAR Market in Shanghai.

These listings defied Trump's assertion that the US' revocation of Hong Kong's free-trade status with the US would drive away companies and investors.

"We've now taken that all back. Hong Kong will not be a successful exchange anymore … we're going to make a lot more money now," Trump said in an interview with Fox News in August.