Private banking and wealth management assets in Hong Kong surged 24 percent to a record HK$12.9 trillion in 2025, amid strong net fund inflows and surging demand for asset booking, according to an industry survey released on Thursday.
The Hong Kong Private Wealth Management Report 2026, co-authored by the Private Wealth Management Association (PWMA) and KPMG China, polled executives from 35 private wealth institutions and 17 asset management firms between June and August 2026.
The data points to Hong Kong’s resilience as a cross-boundary wealth hub, with net fund inflows jumping 79 percent year-on-year, and 77 percent of surveyed firms reported increased demand for new accounts and asset booking, up from 59 percent a year earlier.
None of the respondents reported a decline.
Some 94 percent of wealth management firms remain moderately or highly optimistic about the local market’s prospects over the next five years, despite geopolitical uncertainties.
Industry players view Greater Bay Area integration and the Wealth Management Connect scheme as important to future growth.
According to the report, 79 percent of respondents identified Greater Bay Area initiatives as important to their offshore business over the next five years.
Clients continue to view Hong Kong as a trusted platform for managing wealth amidst geopolitical shifts, underscoring the need for the sector to remain competitive and connected, said Amy Lo Choi-wan, chairman of the PWMA executive committee and UBS Hong Kong head and chief executive.
Driven by the need to capture next-generation wealth, 88 percent of firms reported moderate or significant progress in adopting artificial intelligence, generative AI, or agentic AI technologies, a sharp increase from 56 percent in the previous year.
KPMG China noted the next phase of value creation will depend on integrating data and re-engineering workflows.
Relationship managers still spend roughly 38 percent of their time on routine administrative activities, said Song Jianing, head of banking and capital markets, Hong Kong, at KPMG China.
He noted this highlights a critical need for the industry to leverage AI to free up capacity for direct client engagement.
Meanwhile, the proportion of firms actively developing digital asset trading platforms, custody services, or product ranges increased from 16 percent to 25 percent over the past year.
An additional 13 percent of firms already offer such services, while 43 percent have added cryptocurrency exchange-traded funds or products to their offerings.
