Odaily Planet Daily reports: On May 31, Hong Kong SAR Government’s Financial Secretary, Paul Chan, stated in a blog post that both domestic and international capital have shown confidence in Hong Kong, leading to significant growth in its asset management sector. He noted that a leading international consulting firm recently released its 2026 Global Wealth Report, estimating that Hong Kong’s cross-border wealth management assets grew by 10.7% year-over-year to approximately HK$23 trillion, surpassing Switzerland to become the world’s leading cross-border wealth management center.
From now until 2030, cross-border wealth managed in Hong Kong is expected to grow by approximately 9% annually, outpacing Switzerland. This reflects the confidence of capital from both within and outside China in Hong Kong’s institutional framework 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 HK$35 trillion, with 54% of funds originating from investors in mainland China and other regions outside Hong Kong, demonstrating the continued internationalization of Hong Kong’s asset management industry. Looking at the trend, Hong Kong’s asset management sector has shown substantial growth: over the past decade from 2015 to 2024, the scale of assets under management has doubled, and the number of asset management firms has increased by nearly double. (Xinhua News Agency)