Tag Archives: China

     Following are the remarks by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, for launching the Hong Kong Family Office Nexus Digital Knowledge Hub at the inaugural Bloomberg Family Office Summit today (March 27):
 
     In the coming few minutes, I am sharing with you some of the offerings that the Government is working with Bloomberg to promote Hong Kong as a leading hub for family offices.
      
     As you can see from the name of today’s summit, it’s about family offices. What we are now working on is a digital hub that we want to provide, a one-stop shop for either family offices already here or potential family offices thinking or considering to come here to be provided with all sorts of information they need; either regulatory-wise, market-wise, governance-wise, or even in terms of events like this one, in such a way that there is a one-stop platform where they can get this information.
      
     You may ask why we are doing that. For the collaboration between Bloomberg and the Government, we are also working with Invest Hong Kong, which is an investment agency of the Hong Kong Government to entice corporates and also individuals and investors to come here. Among other things, we have tasked them with the overall objective of trying to get for Hong Kong at least 200 single family offices by the year 2025. I would say that it is a target that we find quite easy to achieve. As all of you can see from today’s turnout and also from this week’s attendance as in many major events, including this one of course, and our Wealth for Good Summit in Hong Kong for family offices and the HSBC Global Investment Summit, the interest among many financial people and family offices to be set up here is tremendous. Once they are here, of course they are looking to see what sorts of information and resources they can refer to. And that’s why, again this backdrop, there are four pillars that we are working on. Number one is about community, and secondly, it’s about knowledge. Thirdly, it’s about technology, and finally it’s about philanthropy. The needs and demands or even aspirations of family offices are multiple, so what we try to provide is actually a holistic package for either established family offices and even potential ones, in such a way that they can get all the information that they need.
      
     I may sound a little bit too philosophical. That’s why I am now showing you behind me a snapshot in terms of what this digital hub is all about. You can see here that it covers regulatory information like those tax concessions that we are contemplating and also the investment opportunities being available through the intermediaries, of course including Bloomberg. There are also other types of related information like the exhibitions, the art scenes in Hong Kong, etc, as highlighted by the Finance Secretary just now. But all in all, what we see is that this platform is a living platform, in a sense that it’s a carefully curated one and continuously to revolve around the needs of family offices with the overall objective to make Hong Kong the leading hub for family offices regionally and globally.
      
     Going forward, having heard what I said and what I tried to say, hopefully you are as convinced as I am that it’s something that you have to have. Here we have a QR code for all of you who are interested in taking a look at this website. Also, if you find it useful, do be our ambassador. You can share this with your clients, with your families or even with your friends if they are interested.
      
     I am sure it is only just one of the many collaborations and partnerships that the Government and also Invest Hong Kong will have with Bloomberg in Hong Kong, because there are so many synergies between what we can do here on the asset management side and also with Bloomberg. In particular with the world getting more unstable outside Hong Kong, Hong Kong as the anchor of stability and predictability actually offers the perfect fit for global and regional and even local family offices to continuously to be situated here. So I do urge you to continue to stay attuned to many of our offerings. If any of your friends or your stakeholders are interested in setting up family offices in Hong Kong, do reach out to our Invest Hong Kong team, which you can also contact through this QR code, in such a way that helps me meet my personal KPI of getting 200 single family offices to Hong Kong by the end of this year. Thank you very much.

    

     The Chief Executive, Mr John Lee, attended the Opening Plenary of the Boao Forum for Asia Annual Conference 2025 in Hainan today (March 27) and met with the Director-General of the Food and Agriculture Organization of the United Nations (FAO), Dr Qu Dongyu.

     In the morning, Mr Lee attended the Opening Plenary of the Boao Forum for Asia Annual Conference 2025. The theme of this year’s conference is “Asia in the Changing World: Towards a Shared Future”.

     Member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier Mr Ding Xuexiang delivered a keynote speech at the event. In his speech, Vice Premier Ding highlighted the vision of building an Asian community of common destiny proposed by President Xi Jinping a decade ago, which has since made remarkable progress thanks to the collective efforts of all parties. In the face of growing global uncertainties, Vice Premier Ding put forward “four proposals” to create a brighter future for Asia and the world, namely to strengthen solidarity and co-operation through enhanced mutual trust, to advance economic globalisation through openness and integration, to foster prosperity through promoting mutual benefit, and to safeguard harmony and stability through peaceful coexistence.

     Mr Lee said that he was most encouraged by Vice Premier Ding’s speech. He emphasised that under the principle of “one country, two systems”, Hong Kong is the world’s only open economy that enjoys both the China advantage and the global advantage. He noted that amidst geopolitical shifts, and the emergence of protectionism and unilateralism, the Hong Kong Special Administrative Region (HKSAR) Government remains a staunch advocate of free trade and multilateralism. With its commitment to consolidating resilience against challenges, Hong Kong is the best platform for foreign enterprises entering the Mainland market and for Mainland companies expanding globally. Mr Lee said that with the nation’s support, Hong Kong will further deepen international exchanges and co-operation. Hong Kong will work alongside the country and Asian nations to enhance mutual trust and solidarity, openness and integration, and mutual benefits and peaceful coexistence, driving Asia’s economic growth and advancing global economic integration.

     Vice Premier Ding also shared his “three views” on the country’s economic trajectory. He said that China’s economy remains stable, with a consolidated upward trend; innovation-driven development continues to gain momentum, propelling China’s economic transformation; and China is further deepening reform comprehensively and enhancing its business environment. Vice Premier Ding noted that the country’s economic growth target of around 5 per cent this year is underpinned by strong growth potential, favourable conditions and robust policy measures, and that the country is devoted to achieving its national economic and social development goals for the year.

     Mr Lee stated that these views reinforce global confidence in China’s economic future. He stressed that the more complicated and volatile the external environment becomes, the more steadfastly should Hong Kong leverage its distinctive advantage of having strong support from the motherland and close connection with the world to promote economic development and integrate into the overall development of the country. The HKSAR Government should endeavour to break new ground and continue to promote reforms, uphold the principle of developing new quality productive forces tailored to local conditions, and accelerate the development of an international innovation and technology centre. It will also further consolidate and enhance the city’s status as an international financial, shipping and trade centre; actively build Hong Kong into an international hub for high-calibre talent; adopt an innovative mindset in taking forward the development of the Northern Metropolis and the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone developments together with market forces; and further promote the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area, actively integrating into national development. At the same time, the HKSAR Government will strengthen collaboration with Asian countries to explore diversified economic co-operation, jointly creating a prosperous future and contributing to regional stability and the economic development of both the country and Asia.

     Before attending the Opening Plenary, Mr Lee met with the Director-General of the FAO, Dr Qu Dongyu, to exchange views on enhancing co-operation between the HKSAR Government and the FAO. Noting that the HKSAR Government is actively leveraging Hong Kong’s stringent food safety standards and good reputation in the food sector, Mr Lee said that Hong Kong strives to become a hub for food processing and the international food trade, with a view to enhancing the value of high-quality agricultural and fishery products from the Mainland and promoting them to global markets.

     Mr Lee said that he looked forward to further exchanges between the HKSAR Government and the FAO on areas including the upgrading and transformation of the agricultural and fisheries industries, addressing climate change and the development of a green city, in order to make contributions to global food safety and sustainable development. He mentioned that as an international metropolis, Hong Kong has world-class hotels and conference venues, and gathers renowned academic institutions and experts. Mr Lee said that he welcomed the FAO to consider holding meetings in Hong Kong, and the HKSAR Government will be pleased to provide assistance.

     Mr Lee will return to Hong Kong this evening.

        

     The Commissioner of Customs and Excise, Mr Chan Tsz-tat, yesterday (March 26) called on the General Administration of Customs of the People’s Republic of China (GACC) in Beijing and met with the Minister of the GACC, Ms Sun Meijun, to exchange views on deepening the co-operation between Mainland Customs and Hong Kong Customs. Mr Chan expressed his gratitude to the GACC for their support for the work of Hong Kong Customs. He also toured the facilities of Beijing Customs and the Beijing Daxing International Airport to learn about the local customs clearance procedures and the way to use technology to enhance clearance efficiency.
      
     Mr Chan continued his visits in Guangzhou and Shenzhen today (March 27). He separately met with the Director General of the Guangdong Sub-Administration of the GACC, Mr Li Kuiwen; the Director General in Huangpu Customs District, Mr Jin Hai; the Director General in Guangzhou Customs District, Mr Li Quan; and the Director General in Shenzhen Customs District, Mr Zheng Jugang, to exchange views on issues of mutual concern. He also visited the Nansha Automobile Port of Guangzhou Port and Luohu Port in Shenzhen.
      
     Mr Chan will return to Hong Kong tomorrow (March 28).

  

     â€‹The Secretary for Commerce and Economic Development, Mr Algernon Yau, began his visit to Beijing today (March 27).
      
     Mr Yau called on the China National Intellectual Property Administration this morning to meet with Deputy Commissioner Mr Zhang Zhicheng to deepen co-operation and exchanges in the field of intellectual property (IP). Mr Yau said that the Hong Kong Special Administrative Region Government has spared no effort in protecting IP rights and promoting IP trading to develop Hong Kong into a regional IP trading centre, with a view to giving full play to its unique advantage of connecting both the Mainland and the world, while at the same time facilitating the development of new quality productive forces, in particular fostering the further development of innovation and technology as well as creative industries in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
 
　　In the afternoon, Mr Yau separately called on the Director-General of the Department of Taiwan, Hong Kong and Macao Affairs of the Ministry of Commerce, Mr Fan Shijie, and Deputy Director-General of the Department of Hong Kong, Macao and Taiwan Affairs of the Ministry of Foreign Affairs Mr Ran Bo to update them on the latest trade and economic developments in Hong Kong and exchange views on the new global political and economic landscape.
 
     Mr Yau said that in the face of uncertainties brought about by geopolitics, Hong Kong will continue to leverage its advantages under “one country, two systems” to actively expand economic and trade networks and step up efforts in attracting enterprises and investment, including exploring emerging markets along the Belt and Road, to strengthen and enhance Hong Kong’s status as an international trade centre. In addition, as the most international city in the GBA, Hong Kong will deepen international exchanges and co-operation to enhance influence and competitiveness, thereby contributing to the country’s high-quality development and serving the country’s needs.
 
　　Mr Yau will continue his visit to Beijing tomorrow (March 28).

    

     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, launched at the inaugural Bloomberg Family Office Summit today (March 27) the Hong Kong Family Office Nexus Digital Knowledge Hub for family offices as part of the Hong Kong Family Office Nexus initiative. Mr Hui said that this new digital platform will help family offices remain at the forefront of wealth management innovation, and enable them to thrive in Hong Kong, where private wealth meets opportunities in Asia.
 
     The Hong Kong Family Office Nexus is an initiative announced last October. The Financial Services and the Treasury Bureau (FSTB), Invest Hong Kong (InvestHK), the Hong Kong Academy for Wealth Legacy (HKAWL) and Bloomberg LP have joined forces to deliver a series of projects and resources to support Hong Kong’s family office sector. The Digital Knowledge Hub launched today is a go-to resource dedicated for family offices in Hong Kong and around the world, bringing them the latest information covering community building, knowledge sharing, technology support and philanthropic collaboration.
 
     Content ranging from expert insights and industry best practices to practical guidance on investment strategies, governance, technology adoption and philanthropy, as well as reports and events worthy of family offices’ attention will be updated from time to time on the Digital Knowledge Hub. Apart from carefully curated content, registered members can also access exclusive content through this dedicated database for the family office community.
 
     Mr Hui said, “With this knowledge hub, we are not just providing information; we are building a dynamic, evolving resource tailored to the needs of family offices. Whether it is navigating emerging investment trends, leveraging technology, or deepening philanthropic impacts, this platform will serve as a trusted guide. Family offices are shaping the future of global wealth management, and Hong Kong is uniquely positioned to support their growth. We look forward to seeing family offices thrive in Hong Kong and contribute to the broader financial and philanthropic landscape.”
 
     Head of Asia Pacific at Bloomberg, Mr Bing Li, said, “Hong Kong is fast becoming one of the world’s most attractive destinations for new and growing family offices. We are proud to work with the FSTB, InvestHK and the HKAWL to ensure that the family office community is well supported with the data, insights and knowledge they need to keep succeeding – and keep making a positive impact – in Hong Kong and beyond. The knowledge hub is a small but important step in providing that support.”
 
     The joint initiative of the Hong Kong Family Office Nexus was forged following a meeting in New York between Mr Hui and the founder of Bloomberg LP and Bloomberg Philanthropies, Mr Michael Bloomberg, in April last year. The meeting was held to reinforce Hong Kong’s status as a global hub for family offices and philanthropic activity.
 
     At the same summit, Mr Hui also joined an exclusive discussion for leading family offices to present to them how they can leverage Hong Kong’s professional services and philanthropy network to bring social impacts. The discussion was an event hosted under a new strategic collaboration between the HKAWL and Bloomberg to support family offices’ philanthropic efforts.