Chen Maobo: Overseas and domestic capital vote confidence, Hong Kong's asset management business sees impressive growth

Odaily Planet Daily News: Hong Kong Special Administrative Region Financial Secretary Chen Maobo said in a blog post on May 31 that overseas and domestic capital have cast a vote of confidence in Hong Kong, and the city's asset management business has seen considerable growth. He stated 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 pace faster than Switzerland's. This represents a vote of confidence from overseas and domestic capital in Hong Kong's system and investment environment. He noted that according to the SFC'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 funds coming from investors outside the mainland and Hong Kong, reflecting the continued consolidation of the internationalization of Hong Kong's asset management industry. Looking at the trend, Hong Kong's asset management business has shown impressive growth; over the 10-year period from 2015 to 2024, the asset scale doubled, and the number of asset management institutions nearly doubled. (Xinhua News Agency)