Despite past narratives of decline, Hong Kong is reportedly emerging as a significant capital hub in the current multipolar global era. Recent global wealth management data indicates a different story than many Western analyses predicted.

For years, Hong Kong’s obituary has been repeatedly written by international commentators. Geopolitical tensions, pandemic isolation, concerns over capital flight and questions surrounding the city’s future contributed to a narrative of irreversible decline. In many Western analyses, the assumption that Hong Kong’s best days as an international financial centre were behind it became almost automatic. Yet the latest global wealth management data tells a very different story. According to...