Chan Mo-po: Hong Kong is expected to become the world's leading cross-border asset management center within three years

Hong Kong Special Administrative Region Financial Secretary Paul Chan Mo-po said at an event recently that as of the end of March 2025, the number of registered funds in Hong Kong has reached 976, with a net inflow of more than US$44 billion annually, an increase of 285%. He pointed out that with the rising market demand for asset allocation and wealth management, Hong Kong is moving towards the goal of becoming the world's leading cross-border asset management center, and it is expected to achieve this milestone in the next two to three years.

Paul Chan revealed that there are currently more than 2,700 family offices established in Hong Kong, and it is expected that the number will exceed 3,000 soon, further consolidating Hong Kong's leading position in the field of high-net-worth wealth management.

In terms of financial innovation, he pointed out that the Hong Kong market's interest in digital assets has continued to heat up recently, especially the issuance of stablecoins has attracted widespread attention. The Hong Kong Special Administrative Region Government is actively promoting stablecoin legislation and becoming one of the first jurisdictions in the world to establish a statutory regulatory framework for stablecoins.

In terms of regulatory systems, Hong Kong has taken the lead in launching a licensing system for virtual asset trading platforms (VATPs). Currently, 10 licenses have been issued, and another 8 applications are under review, reflecting the market's high recognition and enthusiasm for participation in this system.

He also mentioned that Hong Kong's two major innovation and technology flagships, Hong Kong Science Park and Cyberport, have successfully incubated 22 listed companies and 20 unicorn companies, injecting strong momentum into the local innovation ecosystem.

Although the current non-residential property market is still weak, Chan Mo-po pointed out that Web3-related companies and investors are driving new market demand. A senior investor purchased a commercial building in the Tin Hau area as a whole, planning to turn it into a gathering point for the development of the Web3 ecosystem. At the same time, many Web3 companies have successively entered Hong Kong office buildings to conduct business, and it is expected that related demand will continue to grow, driving the gradual recovery of the office property market.

Chan Mo-po concluded that Hong Kong will continue to make efforts in the fields of asset management and financial technology, improve the legal system, cultivate innovative projects, and attract global capital and companies to settle in Hong Kong, further consolidating its position as an international financial center.