Hong Kong’s affluent amass at least HK$10 million (US$1.28 million) in liquid assets by the age of 39, with the majority relying on investments to grow their wealth, according to a survey by HSBC.
These wealthy individuals take, on average, eight years to increase their wealth to HK$10 million after they earn their first HK$1 million, the HSBC Affluent Survey released on Friday showed. A similar survey in 2023 showed the average age for Hongkongers to become a millionaire, with HK$1 million in assets, was 33.
The findings suggest that most wealthy people in the city were not born with a “silver spoon”, with nearly 70 per cent of respondents saying they built their wealth through investments, interest earnings, rental income and their own business profits.
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The HSBC survey, conducted in November, covered a sample of 1,318 respondents aged between 24 and 64 years, with liquid assets of HK$1 million or more. The biggest lender in Hong Kong, which has focused on wealth management in recent years, HSBC saw double-digit growth in the number of its multimillionaire clients in 2025.
Middle-class Hongkongers want assets worth at least HK$8.35 million to be considered ‘affluent’. Photo: Dickson Lee alt=Middle-class Hongkongers want assets worth at least HK$8.35 million to be considered ‘affluent’. Photo: Dickson Lee>
“Eighty-five per cent of our multimillionaire customers saw positive portfolio returns last year,” said Brian Hui, HSBC Hong Kong’s chief customer officer of retail banking and wealth.
These multimillionaires typically allocate a greater portion of their wealth to equities and investment funds to achieve higher returns. They also like to invest in alternative assets, which can offer higher returns than traditional investments, the survey showed.
The benchmark Hang Seng Index rose 28 per cent in 2025, its best yearly performance since gaining 36 per cent in 2017. The CSI 300 Index of the mainland’s yuan-denominated stocks climbed 18 per cent, the biggest gain since 2020.
Investors became more enthusiastic about Chinese tech firms in 2025 after start-up DeepSeek surprised the world with its advanced artificial intelligence models developed at a lower cost.
The HSBC survey reflected a similar trend, where affluent investors reduced their reliance on property rental income and bet on tech instead. More than 60 per cent of respondents said they were investing in or planned to invest in AI within five years.
