Alibaba Group and its affiliate Ant Group together committed HK$30 million to support fire relief efforts. Alibaba founder Jack Ma also pledged HK$30 million through his charitable foundation to provide emergency aid to those affected.

Sportswear maker Anta said it would donate HK$30 million in cash and equipment. Xiaomi Corp and ByteDance each pledged HK$10 million to aid the rescue efforts and support victims of the blaze. Tencent, which initially donated HK$10 million, later increased its pledge to $30 million.

More than 40 private enterprises have committed over HK$600 million in donations to the rescue effort as of Wednesday, according to estimates by The Paper, a Shanghai-based news outlet.

The fire rescue efforts have also drawn HK$10 million from China's private equity firm HongShan Capital Group (HSG).

Separately, private equity titan Jean Eric Salata, Chairperson of EQT Asia, also pledged HK$10 million through his family office, Central Cove, to fund grief and psychological support, education resources for displaced children, and financial relief for victims' families.