136 family offices eyeing setting up or expanding operations in Hong Kong: treasury chief
- Treasury chief Christopher Hui says figure includes 82 family offices based on mainland, 27 in Europe and nine in Middle East
- Dedicated team at city’s investment promotion agency has already helped 64 family offices set up or expand operations in city, he adds
More than 130 family offices are planning to set up or expand their operations in Hong Kong, with about three-fifths of them based in mainland China, the city’s treasury chief has said.
Secretary for Financial Services and the Treasury Christopher Hui Ching-yu wrote in replies to lawmakers on Wednesday that 136 family offices had indicated they were preparing or had decided to set up or expand operations in the city as of the end of March.
They consisted of 82 based on the mainland, 13 in the rest of Asia, 27 in Europe, nine in the Middle East, four in Oceania and one in North Africa, he said.
The minister also revealed a dedicated team from InvestHK, the city’s investment promotion agency, helped 64 family offices set up or expand their operations in the city over the same period.
A breakdown of the figure showed 49 were from the mainland, eight from the rest of Asia, four from North America and three from Europe.
“The government welcomes all lawful and rule-compliant family offices to set up in Hong Kong and will provide them with necessary and appropriate assistance, thereby promoting local financial, professional services and economic development,” he said.