Hong Kong has become a “safe haven for capital” with bank deposits reaching over HK$19 trillion (US$2.4 trillion) this year, while the city’s goods exports have remained resilient despite the tariff war, according to the financial chief.
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Financial Secretary Paul Chan Mo-po on Sunday highlighted Hong Kong’s financial market performance, noting that the city’s bank deposits rose by 7 per cent last year and another 10 per cent in 2025.
“Influenced by the geopolitical landscape, global investors are re-evaluating the risk in their asset portfolios, adjusting their investment strategies and diversifying risk. Hong Kong has become a safe haven for capital,” Chan wrote in his blog.
“Given [the HK$19 trillion bank deposits,] Hong Kong’s position as a global leader in initial public offering [IPO] fundraising, the flourishing wealth management sector, and the continuous deepening of financial cooperation with the rest of the world, they all reflect the strong interest international capital has in the Hong Kong market.”
Chan said many major IPOs in the city attracted cornerstone investors from the West and the Middle East this year, adding that some international financial leaders participating in conferences held in Hong Kong indicated plans to expand their operations and hire workers in the city.
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Writing in his blog, Chan underscored the city’s growth in exports of goods as it remained undeterred by the tariff war, recording a year-on-year increase for a consecutive 19 months and an 11.3 per cent rise in the first three quarters compared with the same period last year.
He said the growth came amid China’s deepened economic and trade relations with the Association of Southeast Asian Nations and the Global South in the face of rising international unilateralism, as well as the restructuring of global supply chains and industrial chains.