Securities and Futures Commission of Hong Kong "Quarterly Report": The management assets of funds registered and established in Hong Kong in the third quarter increased by approximately 36% year-on-year.

On December 17th, the Securities and Futures Commission of Hong Kong released its quarterly report for July to September 2025. The report indicated significant progress in deepening internal and external connectivity, promoting financial innovation, and diverse development in the Hong Kong capital market. In terms of external connectivity, the report mentioned that the Securities and Futures Commission signed a total of 6 memoranda of understanding since the beginning of the year, including 3 in the third quarter to enhance international connections in asset management. Hong Kong-domiciled funds saw a net capital inflow of HK$46.9 billion in the third quarter. As of September, these funds' managed assets increased by approximately 36% year-on-year to HK$2.27 trillion. In terms of internal connectivity, the Stock Connect program expanded its product range in September, with trading volume increasing by 56% year-on-year as of November. Since its inception in 2023, the total trading volume of Stock Connect has exceeded RMB 9.3 trillion. There were a total of 24 initial public offerings (IPOs) in the last quarter, raising over HK$70 billion in total, representing a year-on-year increase of over 70%. Hong Kong continued to lead globally in terms of IPO fundraising amount. The Securities and Futures Commission of Hong Kong is closely cooperating with the Hong Kong SAR government to release consultation summaries on two proposed virtual asset regimes as soon as possible. In terms of new investment products, as of the end of November, the total market value of Exchange-Traded Funds (ETFs) approved by the Securities and Futures Commission of Hong Kong increased by 33% year-on-year to HK$54.7 billion, with the total number reaching 11. The total value of Retail Currency Market Funds (RCMFs) approved by the commission surged by 557% to HK$54.8 billion, with the total number of funds increasing to 8 since their launch this year. To strengthen Hong Kong's position as a leading hub for offshore renminbi business, the Securities and Futures Commission of Hong Kong jointly released a roadmap with the Hong Kong Monetary Authority in September, positioning Hong Kong as a global center for fixed income and currency. Detailed work plans are currently being drafted. As of September 30th, the total market value of ETFs and leveraged and inverse products listed on the Hong Kong Stock Exchange approved by the Securities and Futures Commission increased by 31.8% year-on-year to HK$6,535 billion. The Chief Executive of the Securities and Futures Commission of Hong Kong, Ms. Leung Fung Yee, stated that despite facing various unfavorable factors and volatile global markets, the Hong Kong capital market continued to grow steadily and diversify in the quarter. To solidify Hong Kong's status as an international financial center, the commission must continue to enhance the market's ability to tackle future challenges and strengthen resilience based on appropriate regulatory frameworks and robust investor protection.