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...