Joseph Chan highlights $58b boost from new capital investor scheme

Under Secretary for Financial Services and the Treasury Joseph Chan Ho-lim has revealed that the city’s Capital Investment Entrant Scheme had attracted over 1,900 applications by the end of last month. 

If all are approved, the initiative could inject approximately HK$58 billion into the local economy, a testament to its growing popularity among global investors.

Speaking at the Financial Times Asia Banking Summit, Chan noted that more than half of Hong Kong’s wealth management assets currently originate from regions outside Hong Kong and mainland China, showcasing the city’s appeal as a hub for international capital. 

He underscored Hong Kong’s role as a highly liberal economy with investment opportunities spanning both local and overseas markets, aiming to solidify its status as a leading center for financial services and asset management, thereby enhancing the scheme’s allure.

Chan also highlighted the steady progress in the mutual access mechanism between Hong Kong and mainland China, particularly in expanding investment quotas and product offerings. 

He expressed confidence that ongoing discussions with mainland authorities will further increase the mechanism’s capacity, promoting capital flow while maintaining manageable risk levels.