Some family offices have already planned to establish an office in Hong Kong, Financial Secretary Paul Chan Mo-po said yesterday, after giving a speech last Friday at a summit aimed at attracting such businesses.
The Wealth for Good in Hong Kong Summit, held at the Hong Kong Palace Museum, saw more than 400 attendees, including over 100 key decision-makers from global family offices.
Chan said many decision-makers were impressed by the speed of Hong Kong's economic recovery and were planning set up family offices in the city.
The investment strategies of family offices are not only limited to financial products, but also include cultural and artistic investments, Chan said, adding that attracting more family offices could help the city become a global hub for trading and auctioning art.
Hong Kong's art, collectibles and antiques transactions in 2021 saw a total value of HK$66 billion, which was among the highest in the world, Chan said.
Separately, Chan began his trip to Malaysia and Singapore yesterday to promote Hong Kong's strengths in finance, innovation and technology, as well as in arts and culture.
In addition to meeting with government officials, he will also exchange views with businessmen and give speeches at local universities, Chan said.
Paul Chan speaks at the event.
