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HK’s private wealth management sector grew by 9% last year, says SFC

Hong Kong’s private wealth management industry grew by 9% in 2016 to HK$5.2 trillion (US$ 667 billion), according to the Securities and Futures Commission (SFC). The private banking businesses of registered institutions have grown substantially in recent years, according to the regulator, which said in a report that such businesses swelled from HK$2.68 trillion in 2012 to HK$4.06 trillion last…

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