Hong Kong's Asset Management Sector Sees Significant Growth

Hong Kong's Financial Secretary, Paul Chan, stated on May 31 that both domestic and international funds have shown confidence in Hong Kong, leading to substantial growth in its asset management sector. According to Odaily, a recent global wealth report by an international consultancy estimated that Hong Kong's cross-border wealth management assets grew by 10.7% year-on-year to approximately HKD 23 trillion last year, surpassing Switzerland as the world's leading cross-border wealth management center. The report projects that from now until 2030, Hong Kong's cross-border wealth management will grow by about 9% annually, outpacing Switzerland. This growth reflects the confidence of global funds in Hong Kong's institutional and investment environment. Chan mentioned that according to the annual "Asset and Wealth Management Activities Survey" by the Securities and Futures Commission, the total value of Hong Kong's asset management business has exceeded HKD 35 trillion, with 54% of the funds coming from investors outside Mainland China and Hong Kong, indicating the continued internationalization of Hong Kong's asset management industry. The trend shows significant growth in Hong Kong's asset management sector, with asset size doubling and the number of asset management institutions nearly doubling between 2015 and 2024.