Svmuu reported on May 31st that Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region Government, stated in a blog post that domestic and international capital has cast a vote of confidence in Hong Kong, with the city's asset management business seeing substantial growth. He mentioned that an 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-on-year last year to approximately HKD 23 trillion, surpassing Switzerland to become the world's largest cross-border wealth management center.
It is projected that from now until 2030, cross-border wealth managed in Hong Kong will grow by about 9% annually, a rate also higher than Switzerland's. This represents a vote of confidence from domestic and international capital in Hong Kong's institutions and investment environment. He noted that according to the Securities and Futures Commission's annual "Asset and Wealth Management Activities Survey," 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, reflecting the continued consolidation of Hong Kong's internationalization in the asset management industry. In terms of trends, Hong Kong's asset management business has shown impressive growth. Over the ten-year period from 2015 to 2024, asset scale doubled, and the number of asset management institutions nearly doubled. (Xinhua News Agency)