First Five-Year Plan | HK pushes diversified assets, tax incentives to lure global wealth

Diversified asset management instruments, ranging from alternative asset funds to real estate investment trusts (REITs), will anchor Hong Kong's drive to reinforce its position as a global asset and cross-border wealth management hub, Chief Executive John Lee Ka-chiu said.

The city plans to broaden product offerings and deepen its fund market while updating tax concessions for funds, single family offices, and carried interest to court international and mainland family and long-term capital to establish or expand operations in the first Five-Year Plan announced by Lee.

Alongside wealth expansion, the government outlined a push to develop Hong Kong into an international risk management center, leveraging its insurance, reinsurance, and capital markets.

The framework focuses on expanding non-traditional risk management mechanisms, including insurance-linked securities, captive insurers, and a marine specialty risk pool to build capacity for regional and global catastrophe underwriting.

It also plans to reinforce its insurance sector's risk-based capital regime, encouraging insurance capital to invest directly in infrastructure projects across Hong Kong and China.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓