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Hong Kong’s government wants more affluent families to set up shop in the city and bolster its status as Asia’s wealth hub. Photo: Sun Yeung

Exclusive | Chanel, Chopard and Zegna to join Xpeng’s Brian Gu as Hong Kong wines and dines the ultra rich at Wealth for Good summit

  • Looking forward to exchanging views with the speakers and family office decision makers from around the world: Christopher Hui, the Secretary for Financial Services and the Treasury
  • The summit will kick off with a gala dinner at the Grand Hyatt Hong Kong hotel that will also feature a special performance by Chinese classical pianist Zhang Shengliang, who is also know as Niu Niu; it will be followed by an all-day conference the following day

The ultra rich from across the globe will be wined and dined by the Hong Kong government next week, as the city pulls all stops in a charm offensive aimed at enticing foreign investors to its shores.

The Wealth for Good Summit, which is being organised by the Financial Services and the Treasury Bureau and InvestHK, will kick off with a gala dinner on Tuesday at the Grand Hyatt Hong Kong hotel in Wan Chai that will also feature entertainment by local performers. It will be followed by an all-day conference the following day.

An interactive calligraphy dance and a special performance by Chinese classical pianist Zhang Shengliang, who is also known as Niu Niu, will be organised during the gala dinner.

The summit’s organisers have also arranged a viewing of a “Hong Kong success story” short video, with the aim of pushing and sharing the city’s achievements, according to an invitation letter seen by the Post.

Chinese classical pianist Zhang Shengliang, who is also known as Niu Niu, will perform at the Wealth for Good Summit gala dinner. Photo: Handout

David Wertheimer of the Chanel family, Caroline Scheufele, whose family owns Swiss luxury watchmaker and jeweller Chopard, and Angelo Zegna, whose family owns the namesake Italian luxury brand, will be among the headline speakers, according to a government statement published on Thursday.

They will be joined by Oliver Weisberg, the CEO of Blue Pool Capital, Stella Li Ke, CEO of BYD Americas, and Brian Gu Hong-di, vice-chairman and president of Xpeng Motors.

“I eagerly look forward to exchanging views with the speakers and family office decision makers from around the world at the event,” said Christopher Hui, the Secretary for Financial Services and the Treasury.

Hong Kong Chief Executive John Lee speaks at last year’s Wealth for Good summit. Photo: Handout

“Through the summit, we also aim to continue promoting Hong Kong as a prime destination for global family offices and asset owners to set up and expand their businesses.”

The city wants more affluent families to set up shop and bolster its status as Asia’s wealth hub.

Last month, Financial Secretary Paul Chan Mo-po said during his budget announcement that the government will increase the types of transactions that qualify for tax concessions and will be more flexible when it comes to handling incidental transactions, to attract more family offices.
The Grand Hyatt Hong Kong in Wan Chai. Photo: Handout

The summit will centre around four key topics: luxury and legacy, green technology, philanthropy and wealth legacy. The speakers will discuss ways of using Hong Kong’s advantages to forge ahead amid external economic challenges.

Robert Rosen, director of philanthropic partnerships at the Bill & Melinda Gates foundation, will speak at a panel at the summit. Bill Gates is said to have arranged a pre-recorded video message but will not be present for the event.

Hong Kong had 2,703 single family offices at the end of 2023, and around a third of these manage more than US$100 million each in assets, according to Deloitte.
Chief Executive John Lee Ka-chiu said the city aims to get at least 200 more of the world’s top family offices to set up or expand their operations in Hong Kong by 2025.

HSBC woos Asia’s ultra-rich to set up base in Hong Kong with suite of services

Sheikh Ali Al Maktoum, the nephew of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, is among the latest high-profile international investors to respond to the city’s campaign to attract foreign capital.

His firm will manage up to US$500 million in assets and will focus on opportunities in Asia, in sectors including artificial intelligence, construction, electric vehicles, tourism and fintech.

The Wealth for Good summit is part of a push to stage a post-Covid-19 rebound and bolster Hong Kong’s position as Asia’s financial hub. The Global Investors’ Symposium, organised by the Milken Institute, and the inaugural One Earth Summit will also take place during the city’s ‘Financial Mega Event Week’ between March 25 and 27.
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