Hong Kong’s Wealth Assets Rise for First Time Since 2020 (1)

Hong Kong’s total private wealth assets under management rose slightly last year to about HK$9 trillion ($1.2 trillion), the first annual growth since 2020, according to a report released on Friday.

Inflows of about HK$341 billion last year were about three times higher than in 2022, according to the report by the city’s Private Wealth Management Association and KPMG. Still, the assets under management remain considerably below their 2020 level of HK$11.3 trillion.

The city’s political future was a top concern of the 35 industry association member firms surveyed for the report. For investors, the worry is the government’s focus ...