Latest news with #WealthforGood
South China Morning Post
24-03-2025
- Business
- South China Morning Post
Hong Kong thrives on low-tax regime and active capital market, family office says
Hong Kong's low-tax regime, active capital market and integration with the Greater Bay Area suit global family offices and investors, selling points that have helped widen its lead over regional hubs like Singapore and Tokyo, according to industry experts Advertisement The city should hold more conferences and events to promote its competitive advantages, Oliver Weisberg, CEO of Blue Pool Capital, the family office of businessman Joe Tsai, said at the Milken Global Investor Symposium in Hong Kong on Monday. Hong Kong's quality of life, education, healthcare and hub status make it an ideal location, he added. 'There is a great pool of talent as our analysts, associates, managing directors [show],' said Weisberg, a former investment banker with Goldman Sachs and Citadel who has lived in the city for 30 years. 'This is where they want to live for all the reasons we have talked about.' He recalled picking Hong Kong as the top choice in 2015 when he joined Tsai- who is also the chairman of Alibaba Group Holding which in turn is the owner of the Post – in steering the multi-strategy investment firm. Blue Pool Capital CEO Oliver Weisberg speaks at the Milken Institute symposium in Hong Kong on Monday. Photo: Jonathan Wong Hong Kong is hosting several investment-related conferences this week, apart from the Milken symposium. HSBC will hold its Global Investors Summit, while the Hong Kong government will host the third edition of the Wealth for Good event. The World Economic Forum will join the city's stock exchange operator Hong Kong Exchanges and Clearing to conduct the Centre for Financial and Monetary Systems symposium. Advertisement Financial Secretary Paul Chan Mo-po said there would be more mega-events in the pipeline, including the inaugural Hong Kong Global Financial and Industry Summit in June, which is expected to draw hundreds of global enterprises, tech firms and funds.
Yahoo
12-03-2025
- Business
- Yahoo
Hong Kong to host 3 major financial events, highlighting its role as top international hub
Hong Kong is set to host three major wealth and investment events towards the end of the month, underscoring the city's standing as an international financial centre capable of attracting investors and entrepreneurs. The highlight would be the third edition of the Wealth for Good in Hong Kong Summit on March 26, Christopher Hui Ching-yu, Secretary for Financial Services and the Treasury, said in a blog post on Wednesday. The summit's theme is "Hong Kong of the world, for the world". "Amid global uncertainty and escalating trade tensions, Hong Kong takes a more crucial role as a 'superconnector' and a 'super value-adder' for the mainland and the world than ever," Hui said, adding that the city would continue deepening its cooperation with the international community with its "distinct and independent regulatory and legal regime". Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. The city's uniqueness was also touted by Financial Secretary Paul Chan Mo-po at a tech forum on Wednesday, who said that "Hong Kong continues to practise common law, and adhere to the best international business standards and practices." Financial Secretary Paul Chan speaks at the Wealth for Good in Hong Kong Summit on March 27, 2024. Photo: ISD alt=Financial Secretary Paul Chan speaks at the Wealth for Good in Hong Kong Summit on March 27, 2024. Photo: ISD> "The free flow of people, capital, goods and information, and the unparalleled connectivity we have established with the mainland and the world, are vital to tech innovation activities and attracting top-tier talent from around the globe," he added. Chan expected Hong Kong's initial public offering (IPO) market to reach between US$17 billion and US$20 billion this year, benefiting from the optimism in the tech sector and support from the mainland authorities who have been encouraging leading Chinese companies to list on the Hong Kong stock exchange. Last year, IPO proceeds in the city stood at US$11 billion, ranking fourth globally. The Wealth for Good summit marks the government's push to elevate the city as a leading global asset and wealth management hub. Global leaders, family office principals and business innovators are expected to attend and discuss topics, such as technology and artificial intelligence, philanthropy, and arts and culture, according to Hui. In his maiden policy address in 2022, Chief Executive John Lee Ka-chiu said he wanted 200 large family offices to set up operations in Hong Kong by 2025. Since then, the government has rolled out a number of initiatives to attract family offices - entities established by wealthy individuals or families to pursue investment, philanthropy and succession planning. "We are confident of achieving our goal of attracting 200 family offices," Hui said. Hong Kong is home to over 2,700 single-family offices, more than half of which hold assets exceeding US$50 million. Last March, the government launched the New Capital Investment Entrant Scheme, more commonly known as the investment migration scheme. At the end of February, the scheme had received more than 910 applications, with an estimated investment of more than HK$27 billion (US$3.4 billion). The Hong Kong government was preparing to roll out more tax incentives for funds and single-family offices, Hui said. The government will engage with industry stakeholders this year, before submitting proposals to the Legislative Council for deliberation next year. "If approved, the relevant measures will take effect from the 2025-26 financial year," he added. Other financial events this month include the Global Investors' Symposium organised by the Milken Institute, a US-based think tank, on March 24. Hong Kong is hosting the event for the second time, with this year's theme being "Connecting global markets: partnerships for resilience". It will be followed by the HSBC Global Investment Summit from March 25 to 27, featuring former European Central Bank president Mario Draghi and veteran US investor Cathie Wood. Later in the year, InvestHK will hold two flagship events, Hong Kong Fintech Week and StartmeupHK Festival. The government's investment promotion arm said on Monday that the 10th anniversary of both the events would be converged and held from November 3 to 7. This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2025 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2025. South China Morning Post Publishers Ltd. All rights reserved. Sign in to access your portfolio
