Hong Kong Non-Exchange-Traded Investment Product Sales Jump 63% To Record HK$9.9 Trillion

Hong Kong sales of non-exchange-traded investment products surged 63% year on year to a record HK$9.9 trillion in 2025, according to ETNet. The annual joint survey by the Securities and Futures Commission and the Hong Kong Monetary Authority said the increase was driven by record market participation and strong demand for fixed income, currency and commodity-related products. The number of clients and firms participating in the market also hit record highs. Clients completing at least one non-exchange-traded investment product transaction rose 33% to more than 1.6 million, while the number of licensed corporations and registered institutions selling such products increased 9% to 452. The number of large firms climbed 27% to 128. Collective investment schemes and structured products drove the record sales, rising 85% and 53%, respectively. Collective investment schemes overtook structured products for the first time since 2020 to become the best-selling product category. Among the top five collective investment schemes reported by large firms, money market funds accounted for 88% of sales, up from 80% in 2024. Sales of currency-linked products also rose 50% to HK$698 billion. Debt securities sales were 43% higher than in 2022, led by sovereign bonds, up 138%, and investment-grade corporate bonds, up 43%.