[Graphic News] Hong Kong tops offshore wealth rankings

Hong Kong has overtaken Switzerland to become the world’s largest offshore wealth hub, according to Boston Consulting Group.

The city’s cross-border wealth reached $2.9 trillion last year, up 10.7 percent from a year earlier, narrowly surpassing Switzerland, the offshore wealth of which grew 7.6 percent.

The growth was driven largely by capital inflows from mainland China, which accounted for about 60 percent of Hong Kong’s offshore assets.

BCG expects the gap between Hong Kong and Switzerland t ...