Third wealth summit taking place this March

Hong Kong will hold its third wealth summit on March 26, which will host crucial discussions on key topics including artificial intelligence and cultural innovation, says Secretary for Financial Services and the Treasury Christopher Hui Ching-yu.

"As a flagship event for global leaders in family office finance and philanthropy, the summit builds on the success of last year’s gathering, providing a platform for global elites to network while reinforcing Hong Kong’s reputation as a leading international financial center," Hui said in his blog on Wednesday.

To further consolidate Hong Kong's position as the world's premier wealth management hub, the government is now formulating additional tax incentive schemes for funds, single-family offices, and carried interest, Hui said.

"Our plan is to engage with industry stakeholders this year, before submitting proposals to the Legislative Council for deliberation next year. If approved, the relevant measures will take effect from the 2025-26 financial year."

He also mentioned that the New Capital Investment Entrant Scheme has received over 910 applications as of the end of February, with an estimated investment amount of more than HK$27 billion for Hong Kong.

STAFF REPORTER