AdvertisementBanking & financeBusinessBanking & Finance
Mainland Chinese investors to drive Hong Kong wealth boom despite new tax rules: report
2-MIN READ2-MIN Listen
Themis QiPublished: 5:00pm, 11 Sep 2026Hong Kong banks expect the contribution of mainland Chinese investors to the city’s wealth management business to continue to grow through 2030, presenting opportunities despite Beijing’s tightened cross-border tax rules.
Mainland China’s share of local assets under management was projected to reach 68 per cent from 59 per cent within five years, according to a report released by the Hong Kong Association of Banks (HKAB) and Deloitte China on Friday.
The report surveyed 147 member banks in the first half of 2026 and offered 37 recommendations on the sector’s development as Hong Kong prepares to unveil its first five-year plan.“Hong Kong has become the world’s largest cross-border wealth management centre [and] will continue to serve as a vital platform linking mainland China with international capital,” said Stephen Chan, acting chairman of HKAB and deputy CEO of Bank of China (Hong Kong), at a media briefing on Friday.
Surveyed banks considered wealth management to be the biggest growth driver, said David Wu, Hong Kong financial services industry leader at Deloitte China.
Rising demand from mainland investors for international diversification, intergenerational wealth transfer and the expanding family office sector were the primary factors, according to the report.
Banks that integrated portfolio construction, family governance, succession planning and digital asset custody would be best positioned to capitalise on this growth, HKAB and Deloitte said.
AdvertisementSelect VoiceSelect Speed1xAI-generated voice