Hong Kong has overtaken Switzerland to become the world’s largest capital management center. This was facilitated by the influx of funds from mainland China and the revival of the local stock market.
It is reported by Bloomberg, informs the portal PromPolitInform.
At the end of last year, cross-border assets registered in Hong Kong increased by 10.7% and reached $2.9 trillion.
Analysts expect that by 2030, Hong Kong could expand its advantage over Switzerland to almost $600 billion. Among the key factors are the rapid accumulation of capital in Asia, China’s industrial dominance and the restoration of the IPO market in Hong Kong.
The world’s private fortunes are rising
Currently, global private wealth is showing the fastest growth since 2021, despite tariff restrictions and macroeconomic instability. Their total volume is currently estimated at $333 trillion.
Hong Kong and Singapore form a key financial hub to serve Asian capital, while Switzerland, the United States and the United Kingdom remain the main centers for placing capital from Europe, the Middle East and Latin America.
Development of family offices
The growing role of Hong Kong as a financial center stimulates the development of the family office market. Their number in the city has grown by 25% since 2023 and at the end of last year reached 3384.
According to a Deloitte survey commissioned by the government, each such office manages assets of at least $10 million, and more than a thousand of them control capital of $100 million or more.
Why does capital return to Hong Kong?
Since the pandemic and political changes, Hong Kong has been actively promoting its competitive advantages ‒ low taxes, dynamic capital markets and access to skilled labor.
This strategy yields results: geopolitical tensions, particularly instability in the Middle East, encourage wealthy investors to redistribute capital toward Asia.
Hong Kong’s Minister of Financial Services and Treasury Christopher Hui said the government plans to expand tax breaks. According to him, at recent summits for ultra-wealthy clients there were more participants from the Middle East.
As reported, last year in the world there were 390 new billionaires ‒ an average of more than one new every day. This is the second largest indicator for the entire observation period after 2021, when, due to pandemic economic shifts, 493 people entered the list of billionaires for the first time.
Recall that the Swiss National Bank (SNB) recorded a profit of about 26 billion Swiss francs ($32.52 billion) in 2025, which was made possible due to a significant increase in the value of gold amid increased investor demand for protective assets over the past year.
Photo – from open sources
