Hong Kong Securities Regulatory Commission “Quarterly Report”: The assets under management of Hong Kong incorporated funds increased by about 36% year-on-year in the third quarter

The Zhitong Finance App learned that on December 17, the Hong Kong Securities Regulatory Commission published its quarterly report for July to September 2025. According to the quarterly report, Hong Kong's capital market has made significant progress in deepening internal and external communication and promoting financial innovation and diversified development. In terms of external communication, the report indicates that since the beginning of the year, the Securities Regulatory Commission has signed a total of 6 memorandums of understanding, including 3 in the 3rd quarter, to strengthen international ties in asset management. Funds incorporated in Hong Kong recorded a net inflow of HK$46.9 billion in the third quarter. As of September, the assets under management of these funds increased by about 36% year-on-year to HK$2.27 trillion.

On the intranet side, Swap expanded its product range in September, and the transaction volume as of November increased 56% year-on-year; since its launch in 2023, the total transaction volume of Swap has exceeded RMB 9.3 trillion.

There were 24 initial public offerings (IPOs) in the last quarter, raising more than HK$70 billion, an increase of more than 70% year-on-year. Hong Kong continues to lead the world in terms of initial public offering capital raised.

The Hong Kong Securities Regulatory Commission maintains close cooperation with the HKSAR Government and aims to publish a consultation summary on the two proposed virtual asset systems as soon as possible.

In terms of new investment products, by the end of November, the total market value of virtual asset spot exchange-traded funds (ETFs) approved by the Hong Kong Securities Regulatory Commission had risen 33% year-on-year to HK$5.47 billion, bringing the total number to 11. Since its launch this year, tokenized retail money market funds approved by the Hong Kong Securities Regulatory Commission have surged 557% to HK$5.48 billion by the end of November, and the total number of funds has increased to 8.

To consolidate Hong Kong's continued development as a leading offshore RMB business hub, the Hong Kong Securities Regulatory Commission and the Hong Kong Monetary Authority jointly issued a road map in September to position Hong Kong as a global fixed income and currency center. Detailed work plans are currently being drawn up.

As of September 30, the total market value of exchange-traded funds (ETFs) and leveraged and inverse products approved by the Securities Regulatory Commission listed on the Hong Kong Stock Exchange increased by 31.8% year-on-year to HK$653.5 billion.

The Chief Executive of the Hong Kong Securities Regulatory Commission, Leung Fung-yee, said that despite many adverse factors and fluctuations in the global market, the Hong Kong capital market maintained steady growth and diversified development during the quarter. To strengthen Hong Kong's position as an international financial center, the Hong Kong Securities Regulatory Commission must continue to enhance the ability and resilience of the Hong Kong market to meet future challenges based on an appropriate regulatory framework and sound investor protection.