An IMGlobalWealth.com News Report
Hong Kong is mounting a renewed bid to position itself as a leading global centre for private wealth, with fresh data pointing to a strong rebound in inflows, assets under management, and cross-border activity. After several years of pandemic disruption and capital outflows, the city’s wealth ecosystem is once again drawing substantial interest from Asia and beyond.
“As Chinese companies expand overseas and executives increasingly operate across multiple jurisdictions, Hong Kong has become a key gateway for offshore wealth generated on the mainland”
According to Boston Consulting Group’s latest Global Wealth Report, cross-border wealth booked in Hong Kong surged by US$231 billion in 2024 to reach US$2.7 trillion, placing the city on par with Switzerland, long regarded as the world’s premier offshore wealth centre. The increase was the largest recorded globally that year, underlining the scale of Hong Kong’s recovery.
Regulatory figures tell a similar story. The Securities and Futures Commission reported that total assets under management across Hong Kong’s asset and wealth management industry grew by 13 per cent year-on-year to HK$35.1 trillion by the end of 2024. Over the same period, net fund inflows soared by 81 per cent to HK$705 billion, while assets in the private banking and private wealth management segment rose by 15 per cent to around HK$10.4 trillion.
This momentum is being driven by a combination of regional wealth creation and growing demand for international diversification. As Chinese companies expand overseas and executives increasingly operate across multiple jurisdictions, Hong Kong has become a key gateway for offshore wealth generated on the mainland. The Cross-Boundary Wealth Management Connect scheme linking Hong Kong, Macao and nine mainland cities has expanded rapidly, and industry leaders are already calling for its extension to other major Chinese centres.
Consumer behaviour is also reflecting this shift. Premiums from new Hong Kong insurance policies purchased by mainland visitors reached HK$62.8 billion in 2024, the highest level since 2016 and around one-third of the city’s total new life policy sales. For many mainland investors, these products offer foreign-currency exposure, higher returns and more flexible structures than those available domestically.
Market activity is further reinforcing the trend. Hong Kong reclaimed its position as the world’s top IPO venue in 2025, raising more than HK$274 billion by December. Many newly listed founders and early investors are now seeking professional management for their offshore assets, feeding directly into private banking demand. At the same time, Hong Kong’s regulatory push into digital assets is attracting new pools of capital, with dozens of asset managers upgrading their licences to cover virtual assets.
Together, these developments suggest that Hong Kong is not merely recovering, but reshaping itself as a modern wealth hub with global reach.
