Hong Kong is a key beneficiary of mainland China’s high household savings rate. A spillover of capital into Hong Kong from the mainland’s overflowing reservoir of household savings could provide much-needed relief for Hong Kong, which is struggling with protracted economic and geopolitical uncertainties. While the mainland is subjected to capital controls, Hong Kong is…
Hong Kong’s investment promotion agency has launched a charm offensive tour to Europe, with the aim of attracting high-net-worth individuals to set up family offices in the city. A top InvestHK official, Charles Ng Siong-kwong, set off on Sunday and will visit various major European cities over the coming week, including London, Milan, Lugano and…
One of Hong Kong’s biggest property agencies is ramping up its family office business by partnering with China’s No. 2 mutual fund to push wealth management products amid a real estate slump. Centaline Wealth Management Ltd., a subsidiary of Centaline Group, will start offering products including fixed-income, money market fund and exchange-traded funds with China…
The Hong Kong government is teaming with media company Bloomberg to stage a series of events for family offices, the latest move in the push to promote the city as a hub for such investment vehicles. The Financial Services and the Treasury Bureau and other government agencies will work with Bloomberg to put on events…
Dunhill Ventures will set up its Family Office Network in Hong Kong, expanding its web of investment vehicles between wealthy families to the city in response to the invitation to establish a regional hub for wealth management. The network, comprising a community of “thousands” of private investors, is considering locations around Asia to set up…
Hong Kong is set to overtake Switzerland as the world’s top destination for cross-border wealth management in the next couple of years, but growing competition does not leave room for complacency, according to Joseph Chan Ho-lim, the undersecretary for financial services and the treasury. He cited reports by UBS and Boston Consulting Group, which predicted…