4
Financial and Monetary Affairs
management business is highly international and about 72 per cent of assets under management are from investors outside Hong Kong.
The government, together with other agencies, continues to explore ways to improve the international competitiveness of Hong Kong's financial markets and provide a more favourable operational, regulatory and tax environment.
Chart 4
Number of Asset Management Companies in Hong Kong
No. of companies
1,200
1,000
1,074
995
800
935
884
836
600
400
200
0
2010
2011
2012
Year
2013
2014
Largest Offshore RMB Centre
In tandem with the increasing use of RMB in cross-border transactions, the offshore RMB business in Hong Kong has grown rapidly in recent years. Hong Kong is now the world's largest offshore RMB business hub, with the world's largest pool of offshore RMB funds, and has also become the leading offshore RMB financing and asset management centre.
At the end of 2014, RMB customer deposits and outstanding RMB certificates of deposit issued amounted to RMB1,004 billion and RMB155 billion respectively. The combined sum of RMB1,158 billion represented an annual growth of 10 per cent. Apart from the sizable liquidity pool, Hong Kong also offers a wide range of products including investment funds (both listed and unlisted), insurance products, currency futures, real estate investment trusts, shares and derivative products.
Chart 5
RMB Billion
1,400
RMB Deposits and RMB Certificates of Deposit in Hong Kong
1,200
1,000
1,158
720
1,053
662
800
600
322
400
200
0
2010
2011
2012
Year
2013
2014
59