Hong Kong is doubling down on its ambition to become a global hotspot for family offices—private wealth management firms serving ultra-rich families. Christopher Hui, Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region (HKSAR), told CGTN the city’s wealth management expertise and 'soft power' are key to attracting investors. 💬
🚀 The HKSAR government has set a bold target: luring 200 major family offices by 2025. To get there, they’ve launched perks like tax breaks and a new capital investment entrant scheme. Last year, an estimated 2,700 family offices managed at least $10 million each in assets, with over 800 handling $100 million+ portfolios, per a Deloitte report.
March’s Financial Mega Event Week spotlighted Hong Kong’s strengths in green finance and wealth management. 🌱 Hui called it a 'productive week' that showcased the city’s role as a 'sustainable destination for growth.'
Why does this matter? Family offices are major players in global finance, and Hong Kong’s strategic mix of low taxes, innovation-friendly policies, and East-meets-West connectivity could make it a magnet for wealth—and a launchpad for Asia’s economic future. 💡
