2025年香港信托行业报告（英）

kpmg.com/cnHong Kong Trust Industry Spotlight 2025Navigating change and embracing growthContentsForewordAcknowledgmentsKey findings at a glanceCurrent state of the industrySize of the Hong Kong trust market Key industry developmentsA look back on the progress already made Recent milestones Macro trends and growth opportunitiesIncreasing access to Chinese Mainland clients Attracting private wealth Embracing virtual assets Challenges to overcomeRising compliance costs and industry consolidationAttracting talent ESG investment: Overcoming misalignment between ambition and realityLooking ahead Hong Kong’s role as a trust jurisdiction Strengthening Hong Kong’s charitable sector Addressing gaps in the regulatory regimeLegislative changes to enhance Hong Kong as a trust centreAppendix Trust Training Certificate 2.0 details Glossary About the HKTA About KPMG China Contact us 3456810111219202224252527293030313233343435363738123456Appendix© 2025 KPMG, a Hong Kong (SAR) partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. © 2025 Hong Kong Trustees’ Association Ltd. All rights reserved.Hong Kong Trust Industry Spotlight 20252ForewordAcknowledgmentsKey findings at a glanceCurrent state of the industryKey industry developmentsMacro trends and growth opportunitiesChallenges to overcomeLooking aheadAppendixWelcome to the Hong Kong Trust Industry report, co-authored by the Hong Kong Trustees’ Association (HKTA) and KPMG China. Much has transpired since our last report in 2021. The global economy has faced significant challenges, from the lingering effects of the pandemic to geopolitical uncertainties and market volatility. Yet, amidst these headwinds, the Hong Kong trust and fiduciary industry has continued to grow, reflecting the strength of its regulatory framework, the diversity of its client base, and the adaptability of its practitioners. To gain insights into the changes that have shaped the industry over the past four years, we conducted in-depth interviews with nearly 30 senior industry executives alongside a digital survey of HKTA member institutions. Thanks to their input and insights, we not only have a clearer picture of the key trends, risks and opportunities of strategic interest to the Hong Kong trust industry, but we have also gained a deeper understanding of what will matter most as the industry strives to make progress over the next few years. The trust industry remains a crucial segment of Hong Kong’s financial services sector and there have been numerous changes to the industry and the broader financial services sector since the issuance of our previous report. Notably, the recent regulatory developments, such as the introduction of RA13 for depositaries of SFC-authorised collective investment schemes and the HKMA’s Supervisory Policy Manual Module TB-1, are enhancing industry credibility