Chan Mo-po: Trust from Domestic and Foreign Funds Indicates Significant Growth in Hong Kong's Asset Management Sector

05/31 08:10

On May 31, Chan Mo-po, the Financial Secretary of the Hong Kong Special Administrative Region, stated in a blog post that domestic and foreign funds have cast a vote of confidence in Hong Kong, indicating considerable growth in the asset management sector. He mentioned that an international consulting firm recently released a global wealth report for 2026, estimating that the cross-border wealth management assets in Hong Kong grew by 10.7% year-on-year to approximately HKD 23 trillion last year, surpassing Switzerland to become the world's leading cross-border wealth management center. It is expected that from now until 2030, the cross-border wealth managed in Hong Kong will grow by about 9% annually, outpacing Switzerland. This reflects the trust that domestic and foreign funds have in Hong Kong's system and investment environment. He noted that according to the Securities and Futures Commission's annual 'Survey of Asset and Wealth Management Activities,' the total value of Hong Kong's asset management business has exceeded HKD 35 trillion, with 54% of the funds coming from investors outside of mainland China and Hong Kong, demonstrating the ongoing internationalization of Hong Kong's asset management industry. The trend shows significant growth in Hong Kong's asset management sector, with the asset scale doubling and the number of asset management institutions nearly doubling over the ten years from 2015 to 2024. (Xinhua News Agency)
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