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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