Saturday’s Hong Kong Pride march was its most visible event yet, with more sponsorship and attendees joining the celebrations than ever before.

According to Fridae, this year’s pride march saw JP Morgan and Citibank join Barclays, as well as Goldman Sachs and Nomura who signed on as corporate sponsors last year.

In total, organisers said the day’s budget was estimated to be over HK$200,000 (£16,000).

The march started at Victoria Park in Causeway Bay and ended at Tamar Park in Admiralty. As part of the event, participants dressed in loud red colours to match the parade’s theme: “We stand for love, we stand for LGBT.”

Paul Choi, Executive Director of Goldman Sachs’s Human Capital Management division, said in statement: “The Hong Kong Pride Parade creates an opportunity for LGBT and LGBT-friendly people to come together and raise awareness of LGBT inclusiveness in Hong Kong.

“As a company, we have been participating in the parade since 2008, and we are glad to see more people taking part as Hong Kong becomes more inclusive.”

Abby Lee, co-founder of Les Peaches, said: “Pride events around the world are extremely important milestones on any country’s LGBT calendar.”

“It is a day of visibility for the LGBT movement. A day to show the rest of the world that we are celebrating our sexual identities and community’s solidarity. This is especially true in Hong Kong where the LGBT community is still fairly transparent and discreet and our basic human rights still denied.”

This year’s Rainbow Ambassadors were Hong Kong pop star Anthony Wong, who came out last year, and former legislative council member Tanya Chan.

Ms Chan said: “You don’t have to be gay to support equal rights. I believe everyone who believes in justice should strive for equality.”

Attendees at the parade were reported to have been over 8,000 – more than double compared to last year’s celebrations – including more mainland Chinese supporters joining the march.

Hong Kong’s first ever pride celebration in 2008 had only just over 1,000 attendees.