Hong Kong assets hit record US$5.38 trillion on renewed China appetite: SFC

Assets and wealth under management in Hong Kong surged to a record high last year as global investors returned to Chinese assets, underscoring the city’s edge over Switzerland as a wealth hub.

Financial firms in Hong Kong managed HK$42.2 trillion (US$5.38 trillion) worth of assets last year, a 20 per cent increase from the previous peak of HK$35.5 trillion in 2024, according to a report released by the Securities and Futures Commission on Thursday.

Driven by the asset-management and private-wealth businesses, Hong Kong recorded net fund inflows of more than HK$2 trillion in 2025, soaring 193 per cent, year on year, the city’s securities watchdog said.

The SFC attributed the performance to firm confidence among global investors, market innovation and Hong Kong’s talent pool, which bolstered the city’s resilience against global headwinds.

“Looking ahead, the SFC remains committed to continued regulatory enhancements to foster Hong Kong’s competitiveness as a premier international financial centre and a leading offshore renminbi hub,” Elisa Ng, the SFC’s executive director of investment products, said in a statement.

The commission’s data follows a late-May report from Boston Consulting Group showing that Hong Kong overtook Switzerland to become the world’s top cross-border wealth hub in 2025.