Temasek, Asian state funds to grow their assets by 34% to US$25 trillion by 2030
Advertisement
These sovereign investors, which include 146 central banks, sovereign wealth funds and public pension funds, could grow their assets to US$25 trillion by 2030 from an estimated US$18.7 trillion currently, the US-based organisation said in a report on Tuesday. The sum would collectively represent one-third of the global total, it added.
'As countries and their citizens reap the rewards of the integration with the global economy, policymakers hope to capitalise on their position to continue their growth stories, buoyed by favourable demographics and geographic position,' the report said. To meet ambitious development goals, policymakers must raise additional revenue while reining in public spending, it added.
Asia contributed roughly US$35 trillion to global gross domestic product and represented 60 per cent of economic growth last year, it said. It is also home to 46 sovereign wealth funds with US$4.8 trillion of assets as of April 2025.
Ma Xingrui, party secretary for the Xinjiang Uygur autonomous region, meets with top Temasek executives in Urumqi in August 2024. Photo: Handout
The report highlighted the prolific deal-making of Singapore's Government Investment Corp or GIC and Temasek, among the world's top spenders. Between January 2020 and April 2025, the Singaporean duo accounted for almost three-quarters of all capital deployed by Asian sovereign investors to top destinations like the US, India, UK and China.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
2 hours ago
- South China Morning Post
Pfizer, Chinese biotech firm 3SBio complete worldwide licensing deal for cancer drug
First announced in May, the deal will see 3SBio – based in Shenyang, capital of northeastern Liaoning province – receive a US$1.25 billion upfront payment from Pfizer for the exclusive right to sell its cancer drug, SSGJ-707, outside China. Under the terms of their agreement, Pfizer will also pay 3SBio up to US$150 million to solely develop and commercialise SSGJ-707 within the mainland, the two companies said on Thursday. Pfizer also agreed to buy 31.1 million new shares in S3Bio, or a 1.3 per cent equity stake, for HK$785 million, according to a stock exchange filing. The deal at HK$25.2055 per share represents a 17 per cent discount to its market price on Thursday. 3SBio's shares fell 6.41 per cent to HK$28.45 on Friday. The transaction reflected the strong momentum of Chinese biotech firms in the field of drugs research and the increased interest from major foreign pharmaceutical companies to license their intellectual property.
South China Morning Post
3 hours ago
- South China Morning Post
Hong Kong life insurance sales jump 43% to record high in first quarter
Life insurance sales in Hong Kong rose 43 per cent in the first quarter to a record high on demand for protection and estate planning from high-net-worth customers and visitors from mainland China, as the city seeks to become a wealth management hub to rival global leaders like Switzerland. The industry wrote HK$93.4 billion (US$12 billion) worth of new life policies in the first quarter, up from HK$65.3 billion a year earlier, the Insurance Authority said on Friday. It was the highest first-quarter sales tally since the authority was established in 2016. Hong Kong had a record year in 2024, when insurers posted a 21.4 per cent jump in sales to HK$219.8 billion, courtesy of a world-record policy sold by HSBC Life. 'Hong Kong's insurance industry continued its strong momentum in early 2025, supported by sustained demand for savings, health, and protection products from both local customers and mainland Chinese visitors,' said Patrick Graham, CEO of Manulife Hong Kong and Macau. The regulator did not disclose policy sales to mainland visitors, having earlier decided to release such statistics after a review about the disclosures of non-local buyers.
South China Morning Post
3 hours ago
- South China Morning Post
Labubu retailer Pop Mart focused on taking Chinese brand to world, CEO says
A new wave of Chinese consumer companies, led by toymaker Pop Mart, is seeking a greater global presence, reflecting China's strategic pivot towards exporting its brands, and not just products. 'We originally hoped to become China's Disney; now we hope to become the world's Pop Mart,' the company's founder and CEO, Wang Ning, said in an interview with state broadcaster China Central Television on Thursday. 'We use China's manufacturing industry and market to incubate artists from all over the world, and bring their creations back out to the world.' Pop Mart, a retailer with an intellectual property-focused business model, has seen its international revenue soar with the explosive global popularity of its Labubu dolls. The plush character with pointy ears, jagged teeth and signature mischievous grin, has gained high-profile fans like Lisa from K-pop group Blackpink and global music icon Rihanna, and is often sold out around the world. The company's revenue from markets outside mainland China surged 375.2 per cent to 5.07 billion yuan (US$708.35 million) last year and is set for further growth. 'This year, overseas sales will likely surpass domestic sales,' Wang said, noting that sales in North America were expected to exceed sales in Southeast Asia, its top-performing overseas market last year.
