Hong Kong Surpasses Switzerland as Leading Cross-Border Wealth Management Hub

Sana'a: The Chinese People's Daily newspaper reported on Saturday that a recent report by the Boston Consulting Group stated that Hong Kong's wealth management assets increased by 10.7 percent to reach $2.95 trillion US dollars over the past year, surpassing Switzerland to become the world's largest cross-border wealth management center. According to Yemen News Agency, the report revealed that the increase in Hong Kong's wealth management assets is due to multiple factors, including capital inflows from mainland China, the boom in the new stock market, and the rise in the stock market. This highlights the growing attractiveness of Asian wealth and capital markets. Boston projected that Hong Kong will see an annual increase of 9 percent in wealth management assets, reaching $4.6 trillion US dollars by 2030. Hong Kong's Financial Secretary, Paul Chan Mo-po, stated that the 15th National Five-Year Plan affirmed its support for Hong Kong to enhance its role as an international asset and wealth management center , which is also an important part of the region's strategy for developing the financial sector. The region has been leveraging its advantages under the "one country, two systems" principle, its free, open, transparent, and predictable economic policies, its stable and secure investment environment, and its connectivity with external markets. This helps attract more high-net-worth individuals and family offices to settle and invest in Hong Kong. Statistics show that the number of single-family offices in Hong Kong exceeded 3,380 by the end of 2025, an increase of more than 25 percent over two years. The Hong Kong government had received nearly 3,600 applications to participate in the new investor program by the end of last April, and these applications are expected to bring approximately 108 billion Hong Kong dollars to the region.