The Hong Kong Monetary Authority and Securities and Futures Commission published their annual joint survey showing that sales of non-exchange-traded investment products rose 63% year on year to a record aggregate transaction amount of 9.9 trillion in 2025. The number of clients completing at least one transaction increased 33% to more than 1.6 million, while the number of licensed corporations and registered institutions making sales grew 9% to 452. Collective investment schemes became the top-selling product type for the first time since 2020, rising 85% and accounting for 42% of total transactions. Structured products increased 53% and represented 40%, driven by equity-linked products, while demand for fixed-income, currency and commodity products remained strong. Online sales rose to 21% of the aggregate transaction amount from 17% in 2024, with collective investment schemes accounting for 84% of digital sales.