Edward Yau: The total value of assets under management in Hong Kong broke through 35 trillion Hong Kong dollars at the end of last year, and it is expected that the wealth management industry will continue to develop positively.

The investigation report of the Securities and Futures Commission of Hong Kong shows that the total assets under management in Hong Kong exceeded HK$35 trillion by the end of 2024, an increase of 13% compared to the previous year, reaching HK$35.1 trillion, with a net capital inflow increasing by 81% to HK$705 billion. Hong Kong Financial Secretary Paul Chan Mo-po pointed out that after years of continuous efforts in development and promotion, the asset management business in Hong Kong has further expanded. Based on the macroeconomic external environment and the development trends in Hong Kong, it is expected that the financial asset management industry in Hong Kong will continue to develop favorably, with confidence that Hong Kong will become the world's largest cross-border wealth and asset management hub within the next two to three years. He mentioned that the performance of the Hong Kong stock market is remarkable, and the development of asset and wealth management businesses is accelerating, benefiting the fund industry as well. The number of funds registered in Hong Kong and recognized by the Securities and Futures Commission has steadily grown. By the end of last year, the net asset value of these funds had increased by 22% to HK$1.64 trillion, and by the end of May this year, it had further risen by 21% to HK$1.99 trillion. These funds saw a net capital inflow of HK$163 billion last year and HK$237 billion in the first five months of this year. He also stated that the report reflects the internationalization of the Hong Kong market, with overseas investors' assets consistently accounting for over 54% of the total assets under management in Hong Kong. Assets from investors in North America, Europe, and other parts of the Asia-Pacific region have steadily increased over the past year, making up a double-digit percentage of the total assets under management. Under the principle of "One Country, Two Systems," Hong Kong continues to maintain the free flow of capital, people, goods, and information, along with factors such as the linked exchange rate system and legal framework, contributing to the vibrant stock market and IPO market. This has instilled greater confidence in the development of Hong Kong among international funds, investors, and asset owners.