Hong Kong overtakes Switzerland as top wealth hub (original) (raw)

Hong Kong has emerged as the world's largest cross-boundary wealth management centre. HONG KONG SAR GOVERNMENT PHOTO

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May 30, 2026, 12:46 am

HONG KONG — Hong Kong has overtaken Switzerland as the world's leading cross-boundary wealth management center, according to the latest Global Wealth Report 2026 released by the Boston Consulting Group on May 27.

The report said Hong Kong's cross-boundary wealth rose 10.7 percent in 2025 to US$2.9 trillion, fueled by capital flows from mainland China and a strong stock market that generated significant initial public offering activity and gains among major internet platform companies.

The report projects Hong Kong's cross-boundary wealth under management will grow by an average of 9 percent annually from 2025 to 2030, allowing the city to maintain its top global ranking and reinforcing its status as a leading international wealth management center.

Paul Chan, financial secretary of the Hong Kong Special Administrative Region Government, said China's 15th Five-Year Plan supports Hong Kong's role as an international asset and wealth management center, a key pillar of the city's "Finance Plus" development strategy.

"Over the past few years, the government has worked closely with the financial sector to continuously improve the financial infrastructure and ecosystem, expand the range of investment products and risk management tools, and deepen connectivity with capital markets around the world," Chan said.

He added that Hong Kong's "one country, two systems" framework, coupled with open and predictable economic policies and a stable investment environment, continues to attract ultra-high-net-worth individuals and family offices to establish operations in the city.

Christopher Hui, Secretary for Financial Services and the Treasury, said the government has implemented measures since 2023 to encourage family offices to operate in Hong Kong, including tax concessions for family-owned investment holding vehicles managed by eligible single-family offices and the introduction of the New Capital Investment Entrant Scheme.

Hui said the government plans to submit legislation to the Legislative Council in June 2026 to further enhance preferential tax regimes for funds, single-family offices, and carried interest arrangements.

"The government will introduce legislative proposals into the Legislative Council next month to further enhance the competitiveness of the tax regimes and attract more funds and family offices to set up and operate in Hong Kong," Hui said.

According to a study commissioned by Invest Hong Kong and published in February 2026, more than 3,380 single-family offices were operating in Hong Kong at the end of 2025, an increase of more than 25 percent over the previous two years. PR