The strong performance of the Hong Kong stock this year is largely thanks to capital flows from the Chinese mainland, said Jonathan Choi, chairman of the Hong Kong-based Sunwah Group.

Choi, also a member of the Chinese People's Political Consultative Conference (CPPCC), anticipated the Hong Kong stock market to have a "very good" future because of its stability and investor confidence.

Choi's proposal at this year's CPPCC sessions touched on further integration and cooperation in the Greater Bay Area (GBA), which covers Guangdong Province and the Hong Kong and Macao special administrative regions.

He saw the GBA as the most promising investment destination in China, which will also help further unleash Hong Kong's "big potential" as a national powerhouse.

As of March 5, the Hang Seng Index has gained by about 6 percent year to date, over performing other major indices in the stock markets in Shanghai, New York, London and Tokyo. The Hong Kong stock market during the first three weeks of 2021 even recorded the best trade-in for nearly four decades for the city's benchmark.

Tech shares have led the charge offshore. Share prices of companies like Tencent and Meituan have increased by more than 20 percent since the start of January. Most of this growth has fueled investors in the Chinese mainland, Choi observed.