Leveraging its unique geographical and financial advantages, Hong Kong's influence in global gold trading and cross-border wealth management continues to rise. The latest data shows it has surpassed Switzerland to become the world's largest offshore wealth hub.
Mainland banks are intensively optimizing their gold businesses and relaxing trading restrictions, driving a significant increase in the volume of gold entering through Hong Kong. Globally, the wealth landscape is undergoing a profound reshaping, with the attractiveness of Asian capital continuously strengthening, and regional wealth inheritance and asset allocation are also showing new trends.
Gold imports have doubled, with mainland banks ramping up gold retail operations. According to data released by the Hong Kong Census and Statistics Department on Thursday, May 28, the net import of gold from the mainland through Hong Kong in April was 86.715 tons, a month-on-month increase of 81.2%, nearly doubling from 47.866 tons in March. As the world's largest gold consumer market, the scale of gold inflows into the mainland has risen significantly. New policies introduced by several banks are expected to further amplify this trend.
Currently, international gold prices have retreated from historical highs to below $4,500 per ounce, with market volatility stabilizing. Major banks are optimizing their gold accumulation services. Several institutions have extended online trading hours, moving the night session closing time to 2:00 AM the next day, covering active international market hours. They have also launched fee waivers and thematic promotions to lower the investment threshold. Industry insiders note that in a low-interest-rate environment where quality assets are scarce and the floor for gold prices is continuously rising, gold has become an important choice for household wealth allocation.
The landscape is being rewritten: Hong Kong has overtaken Switzerland for the first time to become the global wealth hub leader. A report titled "Global Wealth 2026" released by Boston Consulting Group on Wednesday indicates that in 2025, the scale of cross-border managed wealth in Hong Kong reached $2.9 trillion, a year-on-year increase of 10.7%. This marks the first time Hong Kong has surpassed Switzerland to become the world's largest cross-border wealth center. The core drivers of this growth are mainland capital inflows, active new stock issuances in capital markets, and rising stock markets.
In 2025, global financial wealth grew by 10.7% overall, reaching a total of $333 trillion. When combined with physical assets, global net wealth approached $550 trillion. Global cross-border wealth increased by 8.4% year-on-year, with the top ten wealth hubs absorbing nearly 90% of new offshore funds. Michael Kahlich, a co-author of the report, stated that global wealth, capital, and investment resources are accelerating their concentration towards top hubs. The rise of Hong Kong vividly reflects the increasingly powerful appeal of the Asian wealth market.
The global wealth map is diverging, with two major hub clusters gradually taking shape. Currently, the global cross-border wealth management market has formed two major development clusters. The cluster comprising Hong Kong and Singapore primarily serves capital from mainland China, India, and Southeast Asia. Switzerland, the United States, and the United Kingdom handle wealth management demands from Europe, the Middle East, and Latin America. Singapore continues to solidify its position as Asia's diversified offshore financial center, while the United Arab Emirates also maintains rapid growth.
Regional growth performance varies significantly. Western Europe leads major markets, relying on exchange rate advantages and high savings rates. Mainland China's financial wealth grew by 15% in 2025 and is projected to maintain an average annual growth rate of 9% until 2030. Wealth growth in North America has slowed, with growth concentrated in leading technology companies. Emerging markets hold substantial potential, expected to add nearly $7 trillion in financial wealth by 2030, with the number of high-net-worth individuals also steadily expanding.
Asia is entering a new stage of intergenerational wealth transfer. The report specifically mentions that Asia is welcoming its first large-scale wave of intergenerational family wealth transfer.
In countries like Singapore, Malaysia, and Indonesia, nearly half of large enterprises are still managed by founders over 70 years old, making family wealth structures increasingly diverse and complex. Wealth inheritance is no longer limited to simple asset transfer but extends to areas such as corporate governance, equity structures, and long-term asset planning. The industry believes that institutions capable of providing comprehensive inheritance solutions will lead the future development direction of Asia's wealth management sector.
In summary, Hong Kong's breakthroughs in both gold trading and cross-border wealth reflect not only its own financial strength but also the increasing influence of Asian capital in the global market. Mainland banks' active deployment in the gold business is driving up demand for physical gold. Meanwhile, the restructuring of the global wealth landscape and the emergence of intergenerational inheritance needs will bring long-term development opportunities to regional financial markets.