Hong Kong's Wealth-generating initiatives boost

This is a Hong Kong news story, published by Yahoo Finance, that relates primarily to the Hong Kong Academy for Wealth news.

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Hong Kong Summit

South China Morning Post

•

Business

Business & Economics

It's a family affair: inside Hong Kong's quest to lure the world's wealthiest clans

Summary

Nutrition label

90% Informative

Two years ago , government unveiled eight measures to promote family offices in Hong Kong .

Measures included tax incentives, revamped investment-migration scheme, streamlined rules for charitable foundations and the establishment of the Hong Kong Academy for Wealth Legacy.

All but one of the eight measures has yet to be implemented: an art storage facility at Hong Kong International Airport .

For most of March , the average daily stock market turnover reached HK$296 billion in Hong Kong , more than double the average in the year-earlier period.

Hong Kong government's efforts to lure international investors had drawn interest from "some overseas family offices and Middle Eastern investors" in fundraising exercises of listed companies like BYD .

Hong Kong will overtake Switzerland by 2027 as the world's number one hub for cross-border wealth management, according to estimates from Boston Consulting Group .

" Hong Kong will not only sustain its status as Asia 's premier family office hub, but also redefine its role in shaping the future of global wealth management," Hui said.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

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not offensive

Hate speech

not hateful