Sales of non-exchange-traded investment products in Hong Kong surged 63 percent year on year to an all-time high of HK$9.9 trillion in 2025.

The surge was driven by strong demand for products related to fixed-income, currencies and commodities (FICC), according to a joint survey by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority published on Tuesday.

The number of clients who completed at least one transaction jumped 33 percent to more than 1.6 million while the number of firms engaged in such sales rose nine percent to 452.

The number of large firms – those with total transactions of at least HK$1 billion – grew 27 percent to 128.

Collective investment schemes overtook structured products for the first time since 2020 as the top-selling product type, with sales up 85 percent.

Structured product sales rose 53 percent. Money market funds accounted for 88 percent of the top five collective investment schemes sales reported by large firms, up from 80 percent in 2024.

Debt securities sales rose 43 percent from 2022, driven by sovereign bonds – up 138 percent – and investment-grade corporate bonds.

Chinese mainland-related issuers were the leading contributors to corporate bond transactions, underscoring Hong Kong's role as an offshore fund-raising hub.

"The new records of sales and market participation reflect global investors' confidence in Hong Kong as a leading international financial centre," said SFC executive director of intermediaries Eric Yip.

He added that the robust performance of FICC-related products underscored the city's evolving role as an up-and-coming FICC hub.

Monetary Authority executive director (banking conduct) Kenneth Hui said the strong growth was a clear testament to investor confidence in Hong Kong's asset and wealth management industry, adding that the authority would continue to adopt a balanced regulatory approach.


Edited by Edmond Fong