Chart 4
No. of companies
1,200
1,000
4
Financial and Monetary Affairs
Number of Asset Management Companies in Hong Kong
995
800
935
884
836
600
764
400
200
0
2009
2010
2011
Year
2012
2013
Largest Offshore RMB Centre
The government has promoted the development of offshore Renminbi (RMB) business in Hong Kong since 2004. 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 offshore pool of RMB funds, and has also become the leading offshore RMB financing and asset management centre.
At the end of 2013, RMB customer deposits and outstanding RMB certificates of deposit issued amounted to RMB860 billion and RMB193 billion respectively. The combined sum of RMB1,053 billion represented an annual growth of about 46 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.
RMB Deposits and RMB Certificates of Deposit in Hong Kong
Chart 5
1,200
1,000
RMB Billion
800
600
720
662
322
400
200
63
0
2009
2010
2011
2012
2013
Year
1,053
International Banking and Payment Centre
International financial institutions maintain a strong presence in Hong Kong. Of the world's top 100 banks, 70 operate in Hong Kong. At year-end, 147 of the 156 licensed banks in Hong Kong were beneficially-owned by parties outside Hong Kong.
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