Core Insights - Hong Kong has solidified its position as the fourth largest foreign exchange trading center globally, with an average daily trading volume increasing from $694.4 billion in April 2022 to $883.1 billion in April 2025, representing a growth of 27.2% [1][3] Foreign Exchange Trading Data - The average daily trading volume in Hong Kong reached $883.1 billion, confirming its status as a major international financial hub [3] - The average daily trading volume of Renminbi (RMB) in Hong Kong surged from $191.2 billion to $315.1 billion, marking a significant increase of 64.8% [3] - The trading volume of offshore RMB interest rate derivatives rose from $14.7 billion to $24.5 billion, reflecting a growth of 67.1% [3] Global Ranking of Forex Trading Centers - The top three foreign exchange trading centers are London, New York, and Singapore, with average daily trading volumes of $4,745.4 billion, $2,334.7 billion, and $1,485.3 billion respectively [6][8] - London is recognized for its deep market liquidity and serves as a natural bridge for trading between Asia and North America [6] - New York plays a crucial role as the global clearing center for USD transactions, which is essential for the global financial system [8] - Singapore benefits from its strategic location and efficient regulatory environment, serving the vast Asia-Pacific market [8] Unique Position of Hong Kong - Hong Kong's unique advantage lies in its role as the largest offshore RMB business hub, which enhances its competitive edge in the global financial landscape [3][12] - The city has transformed from a traditional forex market into a vital liquidity pool and risk management center for RMB, differentiating itself from other major forex trading centers [3][12] - Hong Kong's integration into the national financial opening strategy ensures its irreplaceable position in the global financial framework [5]

Core Insights - The International Bank for Settlements has released a survey indicating that Hong Kong remains the fourth largest foreign exchange center globally and the largest offshore renminbi business hub [1] Foreign Exchange Market - The average daily trading volume of foreign exchange in Hong Kong increased by 27.2%, rising from $694.4 billion in April 2022 to $883.1 billion in April 2025 [1] - Foreign exchange swap contracts are the most actively traded instruments, accounting for 64% of the average daily trading volume, which amounts to $563.7 billion [1] Offshore Renminbi Market - Hong Kong maintains its position as the largest offshore renminbi foreign exchange and over-the-counter interest rate derivatives center [1] - The average daily trading volume of renminbi foreign exchange transactions surged by 64.8%, increasing from $191.2 billion in April 2022 to $315.1 billion in April 2025 [1] - The average daily trading volume of renminbi over-the-counter interest rate derivatives also rose by 67.1%, from $14.7 billion in April 2022 to $24.5 billion in April 2025 [1] Over-the-Counter Interest Rate Derivatives - The average daily trading volume of over-the-counter interest rate derivatives in Hong Kong reached $84.1 billion in April 2025 [1] - The most actively traded over-the-counter interest rate derivatives in the Hong Kong market are denominated in US dollars, renminbi, and Australian dollars [1]

Core Insights - The International Bank for Settlements reported that Hong Kong remains the fourth largest foreign exchange center globally and the largest offshore RMB business hub as of September 30, 2023 [1] Foreign Exchange Market - Hong Kong's average daily foreign exchange trading volume increased by 27.2% from $694.4 billion in April 2022 to $883.1 billion in April 2025 [1] - The growth in foreign exchange trading was primarily driven by increases in foreign exchange swaps (+33.0% or $139.8 billion), spot transactions (+28.7% or $38.5 billion), and OTC options (+165.4% or $31.4 billion) [1] - Foreign exchange swaps are the most actively traded instruments, accounting for 64% ($563.7 billion) of the average daily trading volume [1] Offshore RMB Market - Hong Kong maintains its position as the largest offshore RMB foreign exchange and OTC interest rate derivatives center [1] - The average daily trading volume of RMB foreign exchange increased by 64.8% from $191.2 billion in April 2022 to $315.1 billion in April 2025 [1] - The average daily trading volume of RMB OTC interest rate derivatives also rose by 67.1% from $14.7 billion in April 2022 to $24.5 billion in April 2025 [1] OTC Interest Rate Derivatives - As of April 2025, the average daily trading volume of OTC interest rate derivatives in Hong Kong reached $84.1 billion, with USD, RMB, and AUD being the most actively traded currencies in this market [1]