https://www.scmp.com/rss/16610/feed Features and blog reports on all matters of importance to wealthy people en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu The Middle East war has created new opportunities for family offices and private banking businesses in Hong Kong and Asia, as wealthy investors in the region seek to diversify their investments away from the conflict zone, according to industry players. Ida Liu, CEO of HSBC Private Bank, said some affluent Middle Eastern customers were diversifying into Asia. The bank is the largest wealth manager in Asia with US$1.05 trillion in wealth balances in Asia last year, up 16.3 per cent from a year... https://www.scmp.com/business/banking-finance/article/3351372/how-middle-east-war-boosting-family-offices-private-banking-hong-kong-and-asia?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351372/how-middle-east-war-boosting-family-offices-private-banking-hong-kong-and-asia?utm_source=rss_feed Mon, 27 Apr 2026 00:00:21 +0000 Enoch Yiu Enoch Yiu HSBC Holdings, the biggest lender in Hong Kong and Europe by assets, is committed to the Middle East and plans to plough ahead with investments despite uncertainty in the region, according to a senior executive. Surendra Rosha, co-CEO for Asia and the Middle East, said HSBC would continue to invest in the wealth business in the United Arab Emirates (UAE) in the coming years. Rosha is heading to Saudi Arabia, where HSBC is the biggest overseas investment bank, next week to meet clients and staff... https://www.scmp.com/business/banking-finance/article/3349866/hsbc-will-continue-invest-middle-east-long-term-even-war-rages?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3349866/hsbc-will-continue-invest-middle-east-long-term-even-war-rages?utm_source=rss_feed Mon, 13 Apr 2026 09:00:09 +0000 Themis Qi Themis Qi China’s art market is showing tentative signs of recovery despite economic pressures, according to UBS, which cited rising participation from the next generation of wealthy families. “We have been seeing a rebound, with more trips for auctions and purchases [in China],” said Amy Lo Choi-wan, chairman of UBS Global Wealth Management Asia and CEO of UBS Hong Kong, in an exclusive interview with the South China Morning Post. “So I am optimistic.” Despite a prolonged property downturn and weak... https://www.scmp.com/business/money/markets-investing/article/3348293/sketching-recovery-chinas-art-market-puts-next-gen-buyers-frame-amid-slowdown?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3348293/sketching-recovery-chinas-art-market-puts-next-gen-buyers-frame-amid-slowdown?utm_source=rss_feed Mon, 30 Mar 2026 00:30:17 +0000 Peggy Ye,Themis Qi Peggy Ye,Themis Qi From luxury hotels to investment, Hong Kong is drawing Middle Eastern money as geopolitical tensions reshape travel and capital flows. Hoteliers said they were seeing a growing number of visitors from the region, many of whom were staying longer than typical guests. At the same time, investors are increasingly exploring opportunities in the city as they look to diversify their portfolios. “In Hong Kong, we have seen a recent increase in guest arrivals from the Middle East, and they tend to stay... https://www.scmp.com/business/money/markets-investing/article/3348235/geopolitical-tensions-rise-middle-eastern-money-and-travellers-pivot-hong-kong?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3348235/geopolitical-tensions-rise-middle-eastern-money-and-travellers-pivot-hong-kong?utm_source=rss_feed Sun, 29 Mar 2026 01:30:15 +0000 Peggy Ye Peggy Ye Hong Kong is a stable base for global wealth as rising geopolitical tensions and economic uncertainties prompt wealthy families to rethink where they base their assets, according to Financial Secretary Paul Chan Mo-po. “We are living in a world marked by uncertainty and conflicts,” Chan said at the gala dinner of the Wealth for Good in Hong Kong Summit on Tuesday evening. “The rules-based international order is under strain. Some even say it has been ruptured.” Facing such a situation, investors... https://www.scmp.com/business/banking-finance/article/3347752/hong-kong-safe-harbour-family-wealth-global-tensions-rise-officials-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347752/hong-kong-safe-harbour-family-wealth-global-tensions-rise-officials-say?utm_source=rss_feed Tue, 24 Mar 2026 13:52:05 +0000 Julie Zhang Julie Zhang The wealth management businesses of Chinese investment banks in Hong Kong are growing faster than those of international rivals, as a buoyant initial public offering (IPO) market and rising cross-border flows strengthen their competitive edge. “Chinese investment banks are seeing accelerated growth … because [their] base is smaller and the current market environment favours them,” said Wang Lei, CEO of Huatai Financial Holdings (Hong Kong), in an interview with the South China Morning Post,... https://www.scmp.com/business/china-business/article/3346865/chinese-banks-outpace-rivals-hong-kong-wealth-growth-ipo-boom-capital-flows?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346865/chinese-banks-outpace-rivals-hong-kong-wealth-growth-ipo-boom-capital-flows?utm_source=rss_feed Tue, 17 Mar 2026 23:30:09 +0000 Zhu Wenqian Zhu Wenqian Chow Tai Fook Jewellery Group’s recent launch of a series of high-priced gold-inlaid accessories on the mainland has sparked online debate amid China’s slowing consumer market. Last week, the Hong Kong-listed jeweller showcased several items on its official Weibo account, including a diamond-studded gold AirPods case priced at 788,800 yuan (US$115,000) and gold-inlaid hair clips costing 2,080 yuan each, containing 0.42 grams of gold. The earphone case, made with about 350 grams of gold, was... https://www.scmp.com/business/china-business/article/3346436/all-glitters-goes-viral-chow-tai-fook-unveils-us115000-gold-airpods-case?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346436/all-glitters-goes-viral-chow-tai-fook-unveils-us115000-gold-airpods-case?utm_source=rss_feed Fri, 13 Mar 2026 05:00:09 +0000 Themis Qi Themis Qi Deutsche Bank is seeking to capitalise on wealthy investors across mainland China, Hong Kong, Taiwan and the Philippines who are looking to diversify away from US assets, as it pushes ahead with ambitious expansion plans in the region. Affluent investors from mainland China, Hong Kong, Taiwan and the Philippines – markets Deutsche Bank groups as “North Asia” – were becoming increasingly uneasy about their heavy exposure to US assets and were looking more closely at opportunities in Europe,... https://www.scmp.com/business/banking-finance/article/3346035/deutsche-bank-bets-hong-kong-wealth-boom-asian-billionaires-look-beyond-us-assets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346035/deutsche-bank-bets-hong-kong-wealth-boom-asian-billionaires-look-beyond-us-assets?utm_source=rss_feed Tue, 10 Mar 2026 23:30:08 +0000 Julie Zhang Julie Zhang Hong Kong family offices are showing rising demand for risk-management products, services and advisory support amid growing geopolitical and market uncertainty, according to an affiliate of the Hong Kong Monetary Authority (HKMA). “We see a general trend that demand for risk-management products and services has been rising, and family offices are strengthening these functions year after year,” said Enoch Fung, CEO of the Hong Kong Academy of Finance and executive director of the Hong Kong... https://www.scmp.com/business/banking-finance/article/3346124/hong-kong-family-offices-take-long-view-despite-iran-tensions-hkma-affiliate-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346124/hong-kong-family-offices-take-long-view-despite-iran-tensions-hkma-affiliate-says?utm_source=rss_feed Tue, 10 Mar 2026 11:45:08 +0000 Themis Qi Themis Qi Adrian Cheng Chi-kong, former heir apparent to Hong Kong property giant New World Development (NWD), plans to spend more time in mainland China and increase his tech investments this year, with a focus on a range of sectors from artificial intelligence to aerospace, echoing China’s latest five-year plan. “If our country can realise [the 15th five-year plan], we would be stable and secure, and our future will definitely be promising,” Cheng, who is a member of the Chinese People’s Political... https://www.scmp.com/business/money/markets-investing/article/3345918/hong-kong-tycoon-adrian-cheng-doubles-down-tech-step-chinas-5-year-plan?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3345918/hong-kong-tycoon-adrian-cheng-doubles-down-tech-step-chinas-5-year-plan?utm_source=rss_feed Mon, 09 Mar 2026 06:12:38 +0000 Cheryl Arcibal Cheryl Arcibal Tycoon Li Ka-shing has added more than US$6 billion to his net worth, boosting his standing as Hong Kong’s richest individual and contributing to a US$65 billion increase in the assets of the city’s 50 richest people, according to Forbes. Li, whose business interests span real estate, infrastructure and pharmaceuticals via companies such as CK Asset Holdings and CK Hutchison, had a net worth of US$45.1 billion this year, up from US$38.9 billion in 2025, according to a list compiled by the... https://www.scmp.com/business/companies/article/3343353/superman-li-ka-shing-tops-hong-kongs-billionaire-list-us451-billion-forbes?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343353/superman-li-ka-shing-tops-hong-kongs-billionaire-list-us451-billion-forbes?utm_source=rss_feed Thu, 12 Feb 2026 11:52:11 +0000 Themis Qi Themis Qi Hong Kong housed nearly 3,400 single-family offices by the end of last year, a 25 per cent rise in two years – contributing HK$12.6 billion (US$1.6 billion) annually to the economy – as the affluent refocused on the city amid US trade tensions and the rise of China’s tech sector, according to a report by Deloitte on Tuesday. The global auditing firm made the estimates after surveying 136 market participants across Hong Kong’s family office sector, including 85 single-family offices, whose wealth... https://www.scmp.com/business/banking-finance/article/3343031/hong-kong-family-offices-jump-25-wealthy-shift-focus-us-deloitte?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343031/hong-kong-family-offices-jump-25-wealthy-shift-focus-us-deloitte?utm_source=rss_feed Tue, 10 Feb 2026 07:20:05 +0000 Julie Zhang Julie Zhang Cathy Zhang, head of Asia-Pacific equity capital markets at Morgan Stanley, sounded hoarse after a day of back-to-back meetings with companies keen to go public in Hong Kong. “It’s very possible that the value and number may exceed last year’s IPO figures, given the momentum we have seen in January,” Zhang said in an interview on January 30. Nearly 100 companies filed for stock offerings in the city last month, more than triple the same period in 2025, a year which saw Hong Kong crowned as the... https://www.scmp.com/business/banking-finance/article/3342365/morgan-stanley-sees-another-record-year-hong-kong-ipos-pipeline-hits-450?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3342365/morgan-stanley-sees-another-record-year-hong-kong-ipos-pipeline-hits-450?utm_source=rss_feed Wed, 04 Feb 2026 23:30:38 +0000 Julie Zhang Julie Zhang Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, sold all 350 units released on Sunday in its Sierra Sea project, marking a fifth consecutive sell-out and underscoring returning buyer appetite in the world’s most expensive property market. The batch at phase 2B included 244 two-bedroom and 106 three-bedroom units, with discounted prices ranging from HK$4.6 million (US$590,000) to HK$9.74 million, according to sales documents released on Wednesday. The... https://www.scmp.com/business/companies/article/3341986/hong-kongs-shkp-rolls-out-350-sierra-sea-flats-after-sell-outs-worlds-priciest-market?utm_source=rss_feed https://www.scmp.com/business/companies/article/3341986/hong-kongs-shkp-rolls-out-350-sierra-sea-flats-after-sell-outs-worlds-priciest-market?utm_source=rss_feed Sun, 01 Feb 2026 09:00:12 +0000 Themis Qi Themis Qi Federated Hermes, a New York-listed asset-management firm, plans to set up a Hong Kong office to seize opportunities in Asia’s markets amid ongoing global geopolitical tensions. The company confirmed the move a year after CEO Chris Donahue said at the Asian Financial Forum (AFF) that the Pittsburgh-headquartered firm was considering a presence in the city. The plan had now won board approval and would be announced during this year’s AFF, which kicks off on Monday, the company said. The plan... https://www.scmp.com/business/banking-finance/article/3341159/us-asset-manager-federated-hermes-joins-wave-finance-firms-setting-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341159/us-asset-manager-federated-hermes-joins-wave-finance-firms-setting-hong-kong?utm_source=rss_feed Mon, 26 Jan 2026 00:30:11 +0000 Aileen Chuang Aileen Chuang Growth in sovereign investors’ exposure to mainland China in 2025 slowed amid rising political sensitivities, but experts said selective opportunities and closer bilateral ties could support the outlook. The world’s second-largest economy received US$4.3 billion in investments from sovereign wealth funds, public pension funds and central banks, down 58 per cent from US$10.3 billion in 2024, according to Global SWF, which tracks 792 such state-owned investors. “Sovereign investment activity has... https://www.scmp.com/business/banking-finance/article/3339836/sovereign-investors-cut-mainland-china-exposure-political-sensitivities-rise?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339836/sovereign-investors-cut-mainland-china-exposure-political-sensitivities-rise?utm_source=rss_feed Wed, 14 Jan 2026 09:00:13 +0000 Julie Zhang Julie Zhang Guy Bradley will take the helm at Cathay Pacific Airways and Swire Coca-Cola – two of Swire Pacific’s flagship operations in Hong Kong – in May next year, succeeding Patrick Healy who will retire from the group after more than three decades of service. Currently serving as chairman of Swire Pacific, John Swire & Sons (H.K.) and Swire Properties, Bradley will expand his leadership portfolio to encompass the conglomerate’s airline and bottling operations, according to a Swire Pacific announcement... https://www.scmp.com/business/banking-finance/article/3337540/swire-pacifics-guy-bradley-take-reins-hong-kongs-cathay-pacific-swire-coca-cola?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337540/swire-pacifics-guy-bradley-take-reins-hong-kongs-cathay-pacific-swire-coca-cola?utm_source=rss_feed Tue, 23 Dec 2025 14:12:45 +0000 Themis Qi Themis Qi Nearly half of Hong Kong residents are concerned that their wealth will not last beyond their children, citing market volatility and inheritance disputes, according to a survey by Canadian insurer Sun Life. The survey covered 500 respondents from Hong Kong, including some from mainland China. They were among over 3,000 people aged 18 and above from Asia who were polled in October on the topic of legacy planning. Sun Life found that 44 per cent of Hong Kong residents expressed fear over their... https://www.scmp.com/business/banking-finance/article/3336481/market-volatility-family-feuds-fuel-hong-kongs-wealth-transfer-anxiety-sun-life-survey?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3336481/market-volatility-family-feuds-fuel-hong-kongs-wealth-transfer-anxiety-sun-life-survey?utm_source=rss_feed Mon, 15 Dec 2025 09:30:08 +0000 Themis Qi,Peggy Ye Themis Qi,Peggy Ye More than half of China’s high-net-worth individuals (HNWIs) plan to increase the share of offshore investments in their portfolios over the next year as they seek diversification amid macroeconomic uncertainty, according to a joint report by insurer YF Life and wealth research firm Hurun. The survey covered 500 affluent mainland Chinese, with an average age of 44 and average household net assets of 37 million yuan (US$5.23 million). Just over half of the respondents were business... https://www.scmp.com/business/china-business/article/3335208/chinas-rich-step-offshore-bets-gold-and-insurance-gain-favour?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3335208/chinas-rich-step-offshore-bets-gold-and-insurance-gain-favour?utm_source=rss_feed Thu, 04 Dec 2025 11:00:18 +0000 Julie Zhang Julie Zhang Mainland China’s billionaires have tightened their grip as Asia-Pacific’s wealthiest after their combined fortunes swelled to nearly US$1.8 trillion, with electric-vehicle (EV) maker BYD’s founder Wang Chuanfu and bubble tea chain Mixue’s bosses among the biggest drivers of that growth, according to a UBS report. Backed by a booming tech sector and surging asset prices, the wealth of mainland China’s billionaires jumped 22.2 per cent year on year to US$1.77 trillion in the 12 months to early... https://www.scmp.com/business/banking-finance/article/3335155/mainland-chinas-billionaire-count-surges-byd-and-mixue-bosses-power-wealth-gains?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3335155/mainland-chinas-billionaire-count-surges-byd-and-mixue-bosses-power-wealth-gains?utm_source=rss_feed Thu, 04 Dec 2025 08:30:09 +0000 Radu Magdin Radu Magdin Family offices in Hong Kong, Singapore and Dubai are redrawing the global map of private capital. Each hub combines favourable tax and regulatory regimes with strong local networks of banks, advisers and deal makers. Together, they now rival Western centres in deploying private equity across the Global South. Drawing inspiration from family offices in the United States – where private equity has represented a major share of assets – these Asian hubs are scaling rapidly, positioning themselves as... https://www.scmp.com/opinion/hong-kong-opinion/article/3333112/hong-kong-singapore-dubai-rise-family-office-triangle?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3333112/hong-kong-singapore-dubai-rise-family-office-triangle?utm_source=rss_feed Wed, 19 Nov 2025 08:30:09 +0000 Themis Qi Themis Qi The number of affluent Hong Kong residents has risen slightly, as a stock market boom partly offset the impact of the gradually recovering property sector, according to a Citibank Hong Kong study. The population with total net assets of at least HK$10 million (US$1.3 million) increased by 1.3 per cent to 395,000 as of mid-June from six months earlier, the bank said. The bank surveyed more than 2,600 residents aged 21 to 79 in two periods - December 2024 to January 2025 and August to October 2025... https://www.scmp.com/business/money/wealth/article/3333270/hong-kongs-rich-grow-richer-stock-boom-lifts-multimillionaires-wealth-citi-says?utm_source=rss_feed https://www.scmp.com/business/money/wealth/article/3333270/hong-kongs-rich-grow-richer-stock-boom-lifts-multimillionaires-wealth-citi-says?utm_source=rss_feed Tue, 18 Nov 2025 09:45:43 +0000 Aileen Chuang Aileen Chuang Standard Chartered is targeting the growing number of Chinese individuals living, working and starting businesses in the United Arab Emirates (UAE) as part of a push to expand its wealth-management business. “We now bank an increasing number of Asian clients, specifically Chinese families, in the UAE,” said Judy Hsu, the bank’s CEO of wealth and retail banking, in an exclusive interview. “It has become a growing hub for people who come and work, set up family offices and start their... https://www.scmp.com/business/banking-finance/article/3332677/standard-chartered-tailors-uae-offerings-serve-wealthy-chinese-residents?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3332677/standard-chartered-tailors-uae-offerings-serve-wealthy-chinese-residents?utm_source=rss_feed Fri, 14 Nov 2025 00:30:12 +0000 Enoch Yiu Enoch Yiu Hong Kong has seen a sharp increase in wealthy clients opening accounts to manage their assets this year, surpassing other centres like Singapore as the most favourable destination for asset management, according to a report released on Thursday by the Private Wealth Management Association (PWMA) and KPMG China. Some 44 per cent of PWMA members, including top global private banks like UBS, BNP Paribas, HSBC, Morgan Stanley and JPMorgan, said their clients preferred Hong Kong over other cities –... https://www.scmp.com/business/banking-finance/article/3331739/hong-kong-roars-ahead-top-wealth-hub-overtaking-singapore?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331739/hong-kong-roars-ahead-top-wealth-hub-overtaking-singapore?utm_source=rss_feed Thu, 06 Nov 2025 06:46:50 +0000 Peggy Sito Peggy Sito Significant shifts in the global political and economic landscape are driving China International Capital Corp (CICC) to focus strategically on international growth, targeting the burgeoning markets of Southeast Asia and the Middle East. Chairman Chen Liang said the Chinese investment bank saw opportunities arising from Asia’s booming wealth-management sector and the disruptive potential of artificial intelligence, which were both expected to drive future business growth. As Chinese companies... https://www.scmp.com/business/banking-finance/article/3331465/cicc-targets-southeast-asia-and-middle-east-global-shifts-reshape-investment-landscape?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331465/cicc-targets-southeast-asia-and-middle-east-global-shifts-reshape-investment-landscape?utm_source=rss_feed Tue, 04 Nov 2025 23:30:08 +0000 Julie Zhang,Cheryl Arcibal Julie Zhang,Cheryl Arcibal Switzerland’s MKS PAMP, one of the world’s largest refiners and traders of precious metals, has joined a growing number of European companies that are expanding operations in Hong Kong, drawn by the city’s strengthened focus on its financial services and commodity trading sectors. The Geneva-based firm – locally known for minting the centenary gold bars for Bank of China (Hong Kong) in 2017 – on Thursday opened its 3,600 sq ft regional headquarters at the St John’s Building on Garden Road in... https://www.scmp.com/business/banking-finance/article/3331186/swiss-firm-mks-pamp-aims-help-build-hong-kong-international-gold-trading-hub?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331186/swiss-firm-mks-pamp-aims-help-build-hong-kong-international-gold-trading-hub?utm_source=rss_feed Sun, 02 Nov 2025 06:00:17 +0000 Cheryl Arcibal Cheryl Arcibal The number of luxury flat rental deals in Hong Kong continued to rise this year, buoyed by demand from wealthy mainland Chinese and Western expatriates, amid the city’s stock market rally and the government’s efforts to attract more affluent investors, according to agents. In the first nine months of the year, there were 168 deals for rentals that cost HK$100,000 (US$12,870) a month – a 10 per cent increase over the same period in 2024 – at The Peak and the Southern district, two of the city’s... https://www.scmp.com/business/money/wealth/article/3331154/wealthy-mainland-chinese-western-expats-drive-hong-kongs-luxury-flat-rentals?utm_source=rss_feed https://www.scmp.com/business/money/wealth/article/3331154/wealthy-mainland-chinese-western-expats-drive-hong-kongs-luxury-flat-rentals?utm_source=rss_feed Sun, 02 Nov 2025 01:30:15 +0000 Julie Zhang Julie Zhang Hong Kong has pulled ahead of Singapore in attracting technology-driven companies that use cryptocurrency for treasury management and other applications, reinforcing its position as Asia’s leading digital-asset hub, at least for now, according to a crypto industry veteran who advises both governments. “Over the past two years, especially in the first half of this year, many professionals and companies in the Web3 ecosystem have relocated their headquarters to Hong Kong from Singapore,” said Gu... https://www.scmp.com/business/banking-finance/article/3330994/hong-kong-pulls-ahead-singapore-race-attract-crypto-treasuries-blockchain-expert?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330994/hong-kong-pulls-ahead-singapore-race-attract-crypto-treasuries-blockchain-expert?utm_source=rss_feed Fri, 31 Oct 2025 03:02:06 +0000 Cheryl Arcibal Cheryl Arcibal Paris-based private equity (PE) firm Ardian has opened a 4,000 sq ft office in Hong Kong’s main business district, with an eye on growing its US$3 billion investment out of the company’s total US$200 billion in assets under management (AUM). The new office at the Two International Finance Centre in Central marked the company’s fifth location in Asia and would initially have eight permanent staff, according to Jason Yao, the group’s head of Greater China. “The reason we have an office here is to... https://www.scmp.com/business/companies/article/3330943/european-private-equity-firm-ardian-eyes-fresh-growth-new-office-hong-kongs-two-ifc?utm_source=rss_feed https://www.scmp.com/business/companies/article/3330943/european-private-equity-firm-ardian-eyes-fresh-growth-new-office-hong-kongs-two-ifc?utm_source=rss_feed Thu, 30 Oct 2025 23:30:09 +0000 Aileen Chuang Aileen Chuang Ultra-high-net-worth (UHNW) families are putting greater focus on legacy planning to create sustainable impact for future generations amid growing uncertainty and vast fortunes shifting to younger heirs, according to participants in a Standard Chartered event in Dubai focused on family offices. The emphasis among such families was changing from wealth preservation towards a strategic repositioning of family-office locations, governance structures, succession planning and decision-making,... https://www.scmp.com/business/money/wealth/article/3330897/ultra-rich-families-focus-driving-impact-across-generations-legacy-planning?utm_source=rss_feed https://www.scmp.com/business/money/wealth/article/3330897/ultra-rich-families-focus-driving-impact-across-generations-legacy-planning?utm_source=rss_feed Thu, 30 Oct 2025 08:58:55 +0000 Daniel Ren Daniel Ren China saw a remarkable increase in the number of ultra-wealthy individuals over the past year, driven by a bull market in stocks, with leaders of “new economy” companies emerging as the primary beneficiaries, according to the Hurun Research Institute. A record 1,434 individuals made it onto Hurun’s latest China Rich List, each having a net worth of at least 5 billion yuan (US$702 million). This marked an increase of 340 individuals, or 31 per cent, from the previous year. The collective wealth... https://www.scmp.com/business/article/3330544/rich-list-chinas-billionaire-count-hits-record-stock-markets-surge?utm_source=rss_feed https://www.scmp.com/business/article/3330544/rich-list-chinas-billionaire-count-hits-record-stock-markets-surge?utm_source=rss_feed Tue, 28 Oct 2025 02:00:26 +0000 Enoch Yiu Enoch Yiu Hong Kong’s pension scheme improved its overall adequacy, sustainability and integrity over the past 12 months, rising from a C+ grade to a B – equal to schemes in some European countries but still trailing Singapore’s – according to a report released on Wednesday. The HK$1.5 trillion (US$193 billion) Mandatory Provident Fund (MPF) scored 70.6 points out of a ­possible 100 in the annual Mercer CFA Institute’s Global Pension Index, up from 63.9 last year. The programme now holds the third-best... https://www.scmp.com/business/markets/article/3328990/hong-kongs-pension-scheme-earns-higher-grade-still-lags-behind-singapores?utm_source=rss_feed https://www.scmp.com/business/markets/article/3328990/hong-kongs-pension-scheme-earns-higher-grade-still-lags-behind-singapores?utm_source=rss_feed Tue, 14 Oct 2025 23:00:21 +0000 Aileen Chuang Aileen Chuang Hong Kong is widening its appeal to global family offices, as it shapes new policies designed to meet emerging trends in the sector, according to Secretary for Financial Services and the Treasury Christopher Hui Ching-yu. The city’s “robust legal system, world-class financial infrastructure, strategic proximity to the mainland and competitive and simple tax regime” made it an “ideal destination for family offices, including those from Africa, seeking to establish or expand their operations”, the... https://www.scmp.com/business/banking-finance/article/3328251/hong-kong-revamps-family-office-rules-widen-global-appeal-targets-220-more-2028?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3328251/hong-kong-revamps-family-office-rules-widen-global-appeal-targets-220-more-2028?utm_source=rss_feed Wed, 08 Oct 2025 10:30:25 +0000 Julie Zhang Julie Zhang Hong Kong’s strength as an asset and wealth management hub stems from its role as the gateway to mainland China, according to panellists at a forum on Friday, citing the city’s deep connection to a vast pool of Chinese resources, capital flows and entrepreneurial innovation. “Most of the world’s wealth will originate from mainland China in this century, and Hong Kong will be a key beneficiary, thanks to its unique position as part of the Greater Bay Area and an offshore centre close to the heart... https://www.scmp.com/business/banking-finance/article/3327817/redefining-hong-kong-city-remains-key-beneficiary-chinas-continued-opening-efforts?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3327817/redefining-hong-kong-city-remains-key-beneficiary-chinas-continued-opening-efforts?utm_source=rss_feed Fri, 03 Oct 2025 10:31:49 +0000 Peggy Sito Peggy Sito Hong Kong maintained its position as the world’s third-ranked financial hub, narrowing the gap with leading cities New York and London, according to the latest Global Financial Centres Index (GFCI) report on Thursday. The report, which is published twice a year, said Hong Kong’s overall rating rose 4 points, just 1 point below London and 2 points behind top-ranked New York. “This ranking is not an endpoint, but a validation of our strategy” said Benjamin Hung, chairman of the Financial Services... https://www.scmp.com/business/markets/article/3326875/hong-kong-retains-no-3-rank-global-financial-hub-behind-new-york-and-london?utm_source=rss_feed https://www.scmp.com/business/markets/article/3326875/hong-kong-retains-no-3-rank-global-financial-hub-behind-new-york-and-london?utm_source=rss_feed Thu, 25 Sep 2025 11:38:52 +0000 Aileen Chuang,Danielle Popov Aileen Chuang,Danielle Popov Most Hongkongers prioritise stable returns for their long-term financial goals, as longer lifespans reshape retirement needs and create demand for new investment products, according to a report by a government-backed body on Monday. The Hong Kong Institute for Monetary and Financial Research (HKIMR) said 66 per cent of individuals surveyed highlighted stable returns, while 60 per cent wanted to maintain their current living standards after retirement and for healthcare expenses. The HKIMR is the... https://www.scmp.com/business/banking-finance/article/3326422/hongkongers-seek-stable-returns-longer-lifespans-reshape-retirement-needs-survey?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3326422/hongkongers-seek-stable-returns-longer-lifespans-reshape-retirement-needs-survey?utm_source=rss_feed Mon, 22 Sep 2025 12:41:36 +0000 Aileen Chuang Aileen Chuang Hong Kong-based MicroBit Capital Management took two years to launch its bitcoin and ether exchange-traded funds (ETFs), with their debuts coming amid record-high prices for cryptocurrencies and global regulators’ increasing recognition of digital assets. “Now I believe everybody considers bitcoin, or cryptocurrencies, as quite an important asset class; it’s no longer a scam,” said chief investment officer Kenny Khuong last month during MicroBit’s ETF listings on the Hong Kong stock exchange.... https://www.scmp.com/business/article/3326016/unpacking-cryptos-potential-could-take-digital-assets-mainstream-shape-future-investing?utm_source=rss_feed https://www.scmp.com/business/article/3326016/unpacking-cryptos-potential-could-take-digital-assets-mainstream-shape-future-investing?utm_source=rss_feed Sat, 20 Sep 2025 02:00:16 +0000 Zhang Shidong Zhang Shidong The rout in China’s bond market is expected to drag on as investors take on more risk and rotate out of fixed income products in search of better alternatives amid low interest rates. The shift to stocks from bonds is even more notable, given China’s sluggish economic data and a persistent deflationary trend, as investors seek greater returns, according to brokerages including Zhongtai Securities. Bonds are typically seen as safe-haven assets that can be used to hedge against weak growth. It is... https://www.scmp.com/business/china-business/article/3325693/china-bond-market-rout-likely-continue-investors-seek-riskier-assets-better-returns?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3325693/china-bond-market-rout-likely-continue-investors-seek-riskier-assets-better-returns?utm_source=rss_feed Tue, 16 Sep 2025 06:10:36 +0000 Bloomberg Bloomberg Bullish sentiment towards stocks is rampant in the US, as one Wall Street strategist after another raises their target for an S&P 500 Index that is repeatedly setting records. Yet as optimism about further gains has solidified into something resembling a consensus, even the most bullish are clear-eyed about a growing list of issues that could potentially stop the party. With valuations at among the richest levels of this century, the most commonly cited risks for a hard market landing include... https://www.scmp.com/business/banking-finance/article/3325465/stock-bulls-everywhere-beware-us-market-rally-narrative-loaded-risks?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3325465/stock-bulls-everywhere-beware-us-market-rally-narrative-loaded-risks?utm_source=rss_feed Sun, 14 Sep 2025 04:31:17 +0000 Cao Li Cao Li The assets managed by UBS Group in the Asia-Pacific region recently surpassed US$1 trillion, out of the bank’s global total of US$6.6 trillion, it said on Thursday. As clients seek diversification across markets amid geopolitical tensions, “our global wealth management in the Asia-Pacific region recorded the highest net new asset growth to [US$11.1 billion] in the second quarter among all regions”, said Amy Lo Choi-wan, the firm’s chairman of global wealth management in Asia and CEO of UBS Hong... https://www.scmp.com/business/banking-finance/article/3325238/ubs-says-its-managed-assets-asia-pacific-region-recently-surpassed-us1-trillion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3325238/ubs-says-its-managed-assets-asia-pacific-region-recently-surpassed-us1-trillion?utm_source=rss_feed Thu, 11 Sep 2025 13:29:47 +0000 Enoch Yiu Enoch Yiu HSBC Holdings, Hong Kong’s largest lender, on Tuesday opened a 23,000-square-foot wealth management centre in the International Commerce Centre (ICC), which is expected to give a boost to the city’s struggling office market and help the bank serve its wealthy clients. The centre is located on the 99th floor of the ICC and it is HSBC’s largest wealth management office globally. It features 51 meeting rooms for 100 staff to meet with clients, plus two event spaces that can host banquets for up to... https://www.scmp.com/business/banking-finance/article/3324777/hsbc-opens-wealth-centre-way-icc-boost-hong-kongs-weak-office-rental-market?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3324777/hsbc-opens-wealth-centre-way-icc-boost-hong-kongs-weak-office-rental-market?utm_source=rss_feed Tue, 09 Sep 2025 02:15:07 +0000 Aileen Chuang Aileen Chuang Wealthy investors across Asia are increasingly buying into the US$210 billion secondary private-equity market, betting on bargains and cash flow as a strategic response to geopolitical and economic uncertainties. Attracted by diversification and liquidity, Asian investors – including from Hong Kong and Singapore – accounted for more than half of the subscriptions to a US$1.2 billion secondary fund co-managed by Franklin Templeton and Lexington Partners, Christian Bucaro, Franklin Templeton’s... https://www.scmp.com/business/money/investment-products/article/3324721/wealthy-asians-turn-secondary-private-equity-amid-geopolitical-economic-strains?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/3324721/wealthy-asians-turn-secondary-private-equity-amid-geopolitical-economic-strains?utm_source=rss_feed Mon, 08 Sep 2025 09:00:09 +0000 Aileen Chuang Aileen Chuang Standard Chartered has advised more than 2.5 million of its affluent clients to diversify their portfolios and stick to core investment principles as fresh capital pours into bullish markets. A risk-on mentality over the summer benefited some wealthy clients, but market corrections could lie ahead, said Judy Hsu, the bank’s CEO of wealth and retail banking, in an interview last week. “In July and August, we [saw] more clients across the board deploying more cash into investment products and they... https://www.scmp.com/business/banking-finance/article/3324488/standard-chartered-wealth-and-retail-head-urges-diversification-amid-correction-risks?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3324488/standard-chartered-wealth-and-retail-head-urges-diversification-amid-correction-risks?utm_source=rss_feed Mon, 08 Sep 2025 00:30:08 +0000 Enoch Yiu Enoch Yiu Citigroup’s Asia private bank has hired 10 per cent more advisers this year as strong capital inflows have sparked rallies in Hong Kong and other markets in the region, its Hong Kong head said. In an interview on Wednesday, Horace Yip Chi-ho said a growing number of wealthy clients wanted to take advantage of the rallies and were interested in alternative investments like hedge funds and private equity. “We needed to hire more people as we have seen a growing business this year in Asia,... https://www.scmp.com/business/banking-finance/article/3324298/citis-asia-private-bank-ramps-hiring-strong-capital-inflows-drive-regional-rally?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3324298/citis-asia-private-bank-ramps-hiring-strong-capital-inflows-drive-regional-rally?utm_source=rss_feed Thu, 04 Sep 2025 23:30:07 +0000 Enoch Yiu Enoch Yiu Sales of non-listed investment products soared to a record last year in Hong Kong, as capital poured into mutual funds, debt and equity-lined financial products amid improving market sentiments, underscoring the city’s growth as a financial hub. Sales increased by 40 per cent from 2023 to a record HK$6.07 trillion (US$778.3 billion), according to a survey released on Thursday by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA). As many as 1.2 million... https://www.scmp.com/business/banking-finance/article/3324366/hong-kongs-financial-market-booms-stocks-rally-fuels-sales-funds-bonds-and-others?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3324366/hong-kongs-financial-market-booms-stocks-rally-fuels-sales-funds-bonds-and-others?utm_source=rss_feed Thu, 04 Sep 2025 10:34:06 +0000 Salina Li Salina Li More of Hong Kong’s small and medium-sized property developers will face default risks, market experts said, adding that they hoped the government would provide more capital support as banks remained cautious about issuing new loans. “There is no white knight in the market, so investors and companies that are in financial distress have to self-rescue,” said Glen Ho, national turnaround and restructuring leader at consulting firm Deloitte. “The market is very rigid, lacking new capital, as banks... https://www.scmp.com/business/banking-finance/article/3323817/more-hong-kong-small-and-medium-sized-property-developers-face-default-risks-experts?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3323817/more-hong-kong-small-and-medium-sized-property-developers-face-default-risks-experts?utm_source=rss_feed Sun, 31 Aug 2025 11:00:08 +0000 Zhang Shidong Zhang Shidong The ongoing rally in Chinese stocks will do little to boost growth in the mainland’s economy, as equity investments account for a small portion of total household assets, Nomura Holdings said. In a report on Wednesday, Lu Ting, the Japanese brokerage’s chief China economist, said Chinese households parked the majority of their wealth in the struggling property market. Stock holdings accounted for 1.3 per cent of total household assets, while the proportion for properties was 60 per cent, the... https://www.scmp.com/business/china-business/article/3323488/chinas-stock-boom-will-not-do-much-rejuvenate-economy-nomura-says?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3323488/chinas-stock-boom-will-not-do-much-rejuvenate-economy-nomura-says?utm_source=rss_feed Fri, 29 Aug 2025 00:30:08 +0000 Salina Li Salina Li Hong Kong-listed property developer Shui On Land on Thursday said its first-half net income fell 29 per cent from a year earlier, as the mainland real estate market remained challenged, though it added that Shanghai’s luxury market was resilient. In a filing with the Hong Kong stock exchange, the company said its profit attributable to shareholders fell to 51 million yuan (US$7.1 million) from 72 million yuan a year earlier, as the mainland market was affected by trade tensions, geopolitical... https://www.scmp.com/business/investor-relations/article/3323531/shanghai-focused-shui-land-says-first-half-net-income-falls-29-cent?utm_source=rss_feed https://www.scmp.com/business/investor-relations/article/3323531/shanghai-focused-shui-land-says-first-half-net-income-falls-29-cent?utm_source=rss_feed Thu, 28 Aug 2025 12:30:12 +0000 Aileen Chuang Aileen Chuang Goldman Sachs is pushing legacy planning in Asia, including succession and philanthropy, as family offices boom and family-owned businesses continue to dominate the region. The changing regulatory landscape, growth of family offices and high proportion of family-owned businesses in the region made it a “particularly important period” for wealthy families to engage in generational transition, manage legacies and navigate tensions, said Carra Cote-Ackah, head of legacy planning and philanthropic... https://www.scmp.com/business/banking-finance/article/3321187/goldman-sachs-champions-legacy-planning-us61-trillion-wealth-transfer-looms-asia?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3321187/goldman-sachs-champions-legacy-planning-us61-trillion-wealth-transfer-looms-asia?utm_source=rss_feed Sun, 10 Aug 2025 23:30:10 +0000 Yulu Ao Yulu Ao Mainland Chinese investors bought HK$23.42 billion (US$3 billion) worth of Hong Kong stocks via the Stock Connect on Tuesday, the second time in two weeks that daily southbound net buying exceeded HK$20 billion, as confidence builds in the city’s market rebound. It marked the largest single-day inflow since April 9, when HK$35.6 billion of net buying was recorded, according to data compiled by Wind. On July 25, net purchases also topped HK$20 billion. So far this year, net purchases through the... https://www.scmp.com/business/china-business/article/3320928/daily-southbound-buying-stock-connect-exceeds-us25-billion-twice-2-weeks?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3320928/daily-southbound-buying-stock-connect-exceeds-us25-billion-twice-2-weeks?utm_source=rss_feed Wed, 06 Aug 2025 07:00:05 +0000