Hong Kong has surpassed Switzerland to become the world's top offshore wealth hub. Offshore assets held in the city reached $2.9 trillion in 2025.
Hong Kong has become the world's top wealth hub, surpassing Switzerland. Offshore assets in Hong Kong reached $2.9 trillion in 2025. Global private fortunes also saw significant growth during the same period.
China has overtaken the United States to reclaim its position as the world's billionaire capital, according to the annual report released by Hurun Group on Thursday, with 1,110 billionaires out of 4,020 globally. The country added 287 billionaires since the previous edition, more than recouping its losses over the last three years.
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Hong Kong's initial public offering market has raised more than HK$140 billion (US$17.9 billion) as of April, maintaining its global lead, Financial Secretary Paul Chan Mo-po said, while indicating a renewed push for gold trading amid rising demand for risk diversification. Chan stated on Sunday that the city remains the world's top IPO fundraising hub.
Hong Kong's economy expanded 5.9% year-on-year in Q1 2026, its fastest quarterly growth in nearly five years and surpassing Financial Secretary Paul Chan's forecast of over 4%. Driven by private consumption and government spending despite Middle East tensions, the advance estimate from the Census and Statistics Department exceeded the 4% rise in Q4 2025. A government spokesman highlighted a positive outlook but noted regional risks.
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Hong Kong's commercial property market attracted US$1.6 billion in investment in the first quarter, up 41 per cent year-on-year, according to JLL, driven by demand for office, retail and hotel assets. Peer firm CBRE reported HK$12.3 billion (US$1.57 billion), up 105 per cent, amid lower Hibor rates and improving liquidity.