Latest news with #ChristinaChoi
South China Morning Post
6 days ago
- Business
- South China Morning Post
Hong Kong's asset management industry hits near-record US$4.5 trillion on massive inflows
Hong Kong strengthened its position as a leading global wealth management hub after investors committed major capital to the city last year, lifting assets under management to HK$35.14 trillion (US$4.5 trillion), just shy of an all-time high, before stocks and other instruments delivered hefty gains. Assets under management in the city grew almost HK$4 trillion in 2024, or 13 per cent from a year earlier, the Securities and Futures Commission said in an annual survey published on Wednesday, thanks to an 81 per cent surge in net fund inflows of HK$705 billion, it added. The record of HK$35.55 trillion was set in 2021. Inflows for the asset management and fund advisory business soared 571 per cent to HK$321 billion, while the private banking and private wealth management business recorded a 15 per cent increase in assets under management to HK$10.4 trillion, the survey showed. 'Hong Kong is gaining more clout than ever as a leading international hub for asset and wealth management, propelled by strong fund inflows, financial innovation and a growing talent pool,' said Christina Choi, executive director of investment products at the SFC. Hong Kong is gaining more clout than ever as a global hub for asset and wealth management, the Securities and Futures Commission says. Photo: Shutterstock Images The inflows preceded a robust year for investors in Hong Kong's financial markets. The Hang Seng Index has rallied 25 per cent so far this year to rank among the world's best-performing stock benchmarks. A stock market re-rating fuelled risk appetite and boosted demand for initial public offerings (IPOs), helping the city rise to the top of the global league table, according to industry data.
Business Times
6 days ago
- Business
- Business Times
Hong Kong wealth, fund assets hit HK$35.1 trillion as inflows surge
[HONG KONG] Hong Kong's assets under management across its asset and wealth management industry rose 13 per cent to HK$35.1 trillion (S$5.7 trillion) as inflows surged last year, underscoring a recovery in the Asian financial hub. Net fund inflows jumped 81 per cent to HK$705 billion across the industry in 2024, according to a survey conducted by the Securities and Futures Commission. In particular, inflows for the asset management and fund advisory business soared 571 per cent to HK$321 billion. Assets for private banking and wealth rose 15 per cent to HK$10.4 trillion, boosted by net inflows of HK$384 billion. For the city, it is a stark reversal from the Covid period, when Hong Kong was grappling with an exodus of people and mainland money was moving to Singapore. Hong Kong has been stepping up efforts to attract wealthy with tax concessions and residency plans. The city's equity benchmark is trading near its highest level in over three years, boosted by increased optimism towards technology stocks and strong demand from mainland investors. 'Hong Kong is gaining more clout than ever as a leading international hub for asset and wealth management, propelled by strong fund inflows, financial innovation and a growing talent pool,' said Christina Choi, the SFC's Executive Director of Investment Products. Hong Kong-domiciled funds authorised by the SFC recorded net fund inflows of HK$163 billion in 2024, followed by HK$237 billion in the first five months of 2025. This year, 1,237 firms took part in the SFC's annual survey, including asset managers, private banks and insurance companies. BLOOMBERG
Associated Press
12-03-2025
- Business
- Associated Press
HK Web3 Festival 2025 Announces April 7 Agenda Focused on Virtual Asset Regulation
The HK Web3 Festival 2025 agenda for April 7 is now unveiled, spotlighting Hong Kong's evolving regulations on virtual assets. Industry leaders, policymakers, and innovators will discuss the future of Web3, regulatory advancements, and opportunities shaping Hong Kong's position as a global digital asset hub. Hong Kong, March 12, 2025 -- The White House just hosted a groundbreaking Crypto Summit on March 7th, but with no significant implications for regulatory policies and market sentiment. Amidst the rapid-changing Web3 market, Hong Kong is set to make a difference - With the Hong Kong Web3 Festival 2025 drawing near, global pioneers and experts in Web3 will be gathered to share invaluable ideas, explore the future, and make new rules for the industry. On April 7th, the Mainstage 'Spring' will convene top figures across industries, with the Honourable Paul CHAN Mo-po, GBM, GBS, MH, JP, Financial Secretary of the Government of the Hong Kong Special Administrative Region, sharing updates on Hong Kong's virtual asset policies. Christina Choi, Executive Director of Investment Products, Securities and Futures Commission, Hong Kong, will elaborate on the updates of Hong Kong's virtual assets landscape and the potential collaboration between the asset management and Web3 industry. Following Christina will be Duncan Chiu, Legislative Council Member (Technology & Innovation Constituency), Hong Kong, who will be discussing the latest development on Hong Kong's stablecoins. Henry Ma, Executive Vice President and CIO of WeBank and Director of WeBank Technology Services, will share exciting practices from the FISCO BCOS. SHEN Jianguang, Vice President and Chief Economist of Inc., will discuss the global trends in stablecoin development. An enlightening, regulation-focused panel discussion will then take place, featuring David Lee, Chairman, Global FinTech Institute, Genki Oda, Chairman of Japan Virtual and Crypto assets Exchange Association, and Kevin Goldstein, Co-founder and Managing Partner of Kee Global Advisors. Bitcoin Magazine's CEO David Bailey, also a participant of the White House Crypto Summit, will physically attend the Festival with updates of the US' cryptocurrency policies. Jason Brett, Managing Director of Key Bridge Advisors, and CHEN Zhong, Professor and Doctoral supervisor at Peking University, will deliver keynote presentations regarding Web3 in China and the US. Taking place at the iconic Hong Kong Convention and Exhibition Centre (HKCEC) across 14,000㎡ — 1.5 times the size of previous editions — the festival promises a vibrant environment for networking, learning, and collaboration. It features nearly 40 forums covering diverse topics, bringing together more than 400 global experts, professionals, investors and pioneers in the Web3 industry. Notably, this year's four stages are splendidly designed around the four seasons, combined with elements of typical traditional Chinese architecture. Furthermore, the event has also unveiled an impressive lineup of 2025 sponsors so far, including: Title: TON Foundation, GMGN, OKX Web3 Diamond: Umy, PlatON Platinum: CKB Eco Fund, Qtum, SlowMist Co-organizer: AltLayer, Arkreen, RD Technologies, SNZ Holding Side-Event: Animoca Brands, DRK Lab, ETHAsia, HashKey Exchange, Meet48, MetaEra, SlowMist, TON Foundation, W3SA-HK Gold: Alchemy Pay, Beyond Gaming (BG) Labs, BytePlus, OneKey, Shanghai Data Exchange Primary: BrickBank, Google Cloud, Hotcoin, 鲲KUN, TokenPocket Secondary: CertiK, ChainUP, HappyMeta, Neo, WebX Tertiary: APS Money, Bitjungle, Fufuture, Keyblock Solutions, Metya, MoneyCollect, Nextlink, PingCap Knowledge: Brevis Open Stage: Boundless, Microsoft, Primecoin, Solana Foundation Networking Lounge: Pharos Coffee Bar: GMGN Grab your passes at $599: Follow us on X (@festival_web3) to stay current with the event. Join TG community to get updates: Name: Media Team Email: Send Email Organization: Hong Kong Web3 Festival 2025 Disclaimer: This press release is for informational purposes only. Information verification has been done to the best of our ability. Still, due to the speculative nature of the blockchain (cryptocurrency, NFT, mining, etc.) sector as a whole, complete accuracy cannot always be guaranteed. You are advised to conduct your own research and exercise caution. Investments in these fields are inherently risky and should be approached with due diligence. Release ID: 89154997 Should you come across any errors, concerns, or inconsistencies within this press release's content, we urge you to reach out without delay by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). 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