In a significant shift in the global financial landscape, Hong Kong has officially overtaken Switzerland to become the world's largest cross-border wealth management center. This milestone was revealed in the Boston Consulting Group's (BCG) Global Wealth Report 2026, marking a new era for the city's financial dominance.
By the end of 2025, Hong Kong managed a staggering $2.95 trillion in cross-border assets, representing a 10.7% year-on-year increase. This decisive lead puts it ahead of Switzerland, which ranked second with $2.94 trillion in assets.
The ascent of Hong Kong is largely attributed to the robust flow of capital from the Chinese mainland, which constitutes the majority of the city's cross-border wealth. Additionally, the city's financial ecosystem benefited from a rejuvenated IPO market and strong equity performances throughout the previous year.
Looking ahead, the momentum is expected to continue. The BCG report projects that Hong Kong's cross-border wealth will grow at an annual rate of 9% through 2030, further solidifying its global lead.
Financial Secretary Paul Chan Mo-po highlighted that this achievement affirms Hong Kong's standing as a global leader. He noted that the 15th Five-Year Plan explicitly supports the city in strengthening its role as an international asset and wealth management center. According to Chan, Hong Kong will continue to leverage its unique strategic advantages to attract more family offices and ultra-high-net-worth individuals.
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Hong Kong overtakes Switzerland as world's top cross-border wealth hub
cgtn.com
