[Paul Chan: Domestic and International Funds Cast a Vote of Confidence, Hong Kong Asset Management Business Shows Significant Growth] According to a report by Golden Finance, on May 31, Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region Government, stated in a blog post that domestic and international funds have cast a vote of confidence in Hong Kong, with the city's asset management business showing significant growth. He mentioned that a recent global wealth report released by an international consultancy estimates that Hong Kong's cross-border wealth management assets grew by 10.7% year-on-year to approximately HK$23 trillion last year, surpassing Switzerland to become the world's largest cross-border wealth management center. It is projected that from now until 2030, Hong Kong's managed cross-border wealth will grow by about 9% annually, a growth rate also higher than Switzerland's. This reflects the trust of domestic and international funds in Hong Kong's systems and investment environment. He also noted that, according to the annual "Asset and Wealth Management Activities Survey" published by the Securities and Futures Commission (SFC), the total value of Hong Kong's asset management business has exceeded HK$35 trillion, with 54% of the funds coming from investors outside of Mainland China and Hong Kong. This underscores the continued consolidation of the internationalization of Hong Kong's asset management industry. From a trend perspective, Hong Kong's asset management business shows significant growth, with asset scale doubling and the number of asset management institutions nearly doubling over the 10 years from 2015 to 2024. (Xinhua News Agency)