Hong Kong as an International Financial Centre

As one of the leading international financial centres, Hong Kong is a prime location for financial services and home to many financial institutions. Hong Kong’s financial markets operate under effective and transparent regulations that are in line with international standards.

Located at the heart of Asia, Hong Kong also thrives on close financial integration with Mainland China, extensive networks with the rest of the world, sound legal system, low and simple tax regime, free flow of capital, a full range of financial products, and a large pool of financial talents. The financial sector had a workforce of over 258,000, or nearly 7% of working population in Hong Kong in 2017, and contributed to some 19% of Hong Kong's Gross Domestic Product.

Hong Kong Financial Service Sector at a Glance

	2019
Banking
Assets (USD bn)	3,136	Around 200 authorised institutions, including around 3/4 of the world top 100 3.7 times from 2000
Stock market
Market Capitalisation (USD bn)	4,918	Global #1 in IPO fundraising in 7 out of last 11 years 7.9 times from 2000
Bond market
G3 and local currency bond issuance (USD bn)	560	#3 in Asia ex-Japan, after Mainland China and Korea 8.5 times from 2000
Asset management
Asset under management (USD bn)	3,694	Asia’s #1 international fund management hub 19.5 times from 2000
of which: private wealth management (USD bn)	1,161	Largest international private wealth management centre in Asia 18.6 times from 2003
Renminbi (RMB) business
RMB deposits (incl. certificates of deposit) (RMB bn)	658	World’s deepest offshore RMB liquidity pool
RMB loans and bonds (RMB bn)	322	A broad selection of RMB products
China’s direct investment
Hong Kong’s share of China’s total foreign direct investment & outward direct investment	63%*	Almost 2/3 of China’s inward and outward investment was originated and intermediated via Hong Kong

* 2018 statistics

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Last revision date : 28 December 2020