Hong Kong’s State Fund Reports $289 Million Profit in First Annual Results
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Hong Kong’s sovereign investment fund reported its first annual profit and disclosed detailed operations in a newly released financial statement, positioning itself as a key player in the city’s economic strategy.
Hong Kong Investment Corp. Ltd. (HKIC), a government-owned investment vehicle modeled on sovereign wealth funds, posted an operating profit of HK$2.25 billion ($289 million) for 2024, according to its inaugural annual report released on Thursday.
The fund reported HK$2.345 billion in investment income for the year, offset by HK$93 million in operating expenses. As of Dec. 31, 2024, HKIC’s total assets stood at HK$64.01 billion.
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- Hong Kong Investment Corp. (HKIC) reported a 2024 operating profit of HK$2.25 billion, with total assets at HK$64.01 billion and 20% of its HK$62 billion capital deployed.
- By end-2024, 71% of investments were in hard tech and 62% were in mainland China; by Oct 2025, HKIC backed over 150 projects, attracting significant private follow-on capital.
- HKIC-backed firms created 6,400 Hong Kong jobs by mid-2025; nearly 70% were expanding overseas.
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