Financial News
Author: Zhan Yongyu
2020-11-18 17:19
Last update date: 2020-11-18 17:19
The number of billionaires in the Asia-Pacific region is increasing, and Hong Kong has the highest density of riches in the world.
There are 1,364 ultra-high-net-worth individuals per million adults.
As a financial center in the region, Hong Kong has an increasing demand for family offices to provide wealth management-related services.
In order to cope with the development trend, the Hong Kong Family Office Association announced today (18th) the establishment of Hong Kong's first independent family office organization.
Mr. Guan Zhimin, chairman of the Hong Kong Family Office Association, said that although Hong Kong has an increasing number of high-asset families, there are currently only about 50 family offices in Hong Kong. It is hoped that all family offices will join the association in the future.
He also pointed out that Hong Kong is backed by China, and the Greater Bay Area is a key development in the future, so Hong Kong is expected to drive the development of the family office industry in Asia.
The government has also implemented a series of measures to attract family offices to Hong Kong, including the one-stop service provided by Invest Hong Kong and the Hong Kong Monetary Authority for family offices, as well as a circular issued by the Securities and Futures Commission. Provide more guidance on the system.
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