, Hong Kong
262 view s
Photo by Ruslan Bardash via Unsplash.

HSBC welcomes Hong Kong’s HK$100m bid to attract family office

Hong Kong is aiming to attract 200 family offices to set up shop in the city by 2025.

The head of HSBC’s family office advisory in the region welcomed Hong Kong’s latest announced family office incentives.

“We welcome the Hong Kong government’s latest announcement on family office incentives and believe these are integral to the city’s ambition to become a leading international family office hub,” Aik Ping Ng, head of family office advisory, Asia Pacific at HSBC Global Private Banking, said in a statement.

Ng said that the rapid growth of Asian wealth, coupled with ultra high net worth (UHNW) families’ intent to institutionalise and professionalise the management of their wealth, has spurred the development of Hong Kong’s family office ecosystem.

ALSO READ: Cards maintain dominance in Hong Kong's payment landscape

In Hong Kong’s latest budget speech, financial secretary Paul Chan had announced that the government is investing HK$100m over the next three years to attract 200 of the world’s top family offices to set up shop in the city.

“Incentives like these will help strengthen Hong Kong's competitive edge and encourage new and existing family offices to expand their presence on the ground,” Ng said.

Follow the link for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Australian banks' credit risk rises amidst high debt, economic uncertainty
National Australia Bank reported an 8.1% decline in cash earnings.Australian banks face heightened risk of rising credit losses as high household debt levels, elevated interest rates, and global economic uncertainties continue, according to S&P Global Ratings.
Retail Banking
Visa launches new products to boost flexibility, security in APAC
It also partnered with QR payment providers across the region for cross-border payments.Visa has introduced several new products and services aimed at enhancing payment flexibility and security in Asia Pacific.
Cards & Payments