The Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) published results of their annual joint survey on the distribution of non-exchange-traded investment products, reporting record sales and broader market participation in 2024. Total transaction amount reported by licensed corporations and registered institutions rose 40% year on year to HKD 6,073 billion. Market participation increased alongside volumes, with 414 firms selling investment products (up 9%), 101 “large firms” (up 12%), more than 19,000 staff deployed (up 4%) and over 1.2 million clients completing at least one transaction (up 28%). Structured products remained the largest category at HKD 2,567 billion (42% of total), followed by collective investment schemes (CIS) at HKD 2,244 billion (37%) and debt securities at HKD 941 billion (15%). Sales of authorised CIS rose 96% to HKD 1,400 billion and unauthorised CIS increased 50% to HKD 844 billion, while structured products and debt securities grew 30% and 29% respectively; equity-linked products were the top structured product type at HKD 1,729 billion and accounted for 67% of structured sales. Online distribution accounted for 17% of aggregate transaction amount (from 12% in 2023), with 104 respondent firms selling online (up 13%); CIS represented 77% of online sales and debt securities 21%. The survey covered sales from 1 January to 31 December 2024 to non-professional investor clients, individual professional investors and certain corporate professional investors, with questionnaires sent to 2,368 Type 1 and or Type 4 licensed corporations and 109 registered institutions and a response rate above 99%.

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