The Secretary for Financial Services and the Treasury, Christopher Hui, said on Monday that Hong Kong is on track to exceed its goal of attracting over 200 major family offices by year-end—a target set in Chief Executive John Lee’s 2022 Policy Address to boost the city’s position as a global wealth management hub.
In a local interview, Hui shared that over 160 family offices have already established or expanded operations in the city with the help of InvestHK. Another 150 are reportedly planning similar moves. While the majority are from mainland China, Taiwan, and Macau, others hail from Asia Pacific, Europe, the Americas, and Oceania.
Hui added that the actual number may be even higher, as some family offices may have launched through other channels. Notably, about 25% of the new entrants were influenced by the “Wealth for Good in Hong Kong Summit,” which the government now aims to make an annual marquee event. The third edition is set for Wednesday.
Currently, more than 2,700 single family offices are based in Hong Kong. Hui expressed optimism about further growth, especially as global investors look for stability amid ongoing U.S. policy uncertainties. He emphasized that Hong Kong offers a stable and predictable environment for businesses.
To further support relocations, the government has proposed a new “company relocation mechanism” bill, which is expected to pass in the first half of the year.
