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TOPIC

Wealth management

Wealth management
Latest news and features on wealth management, with a particular focus on Hong Kong, mainland China and Asia.
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Environment

Disbelief as China paraglider sucked into freezing, high altitude vortex is punished

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People on social media have expressed disbelief after a Chinese paraglider who was sucked into a deadly freezing vortex and survived was punished by the authorities. Photo: Douyin

Gender & Diversity

Vietnam influencer known for body confidence angers fans for breast implants

A Vietnamese-Canadian online influencer known for promoting body confidence has angered her fans by getting breast implants. Photo: SCMP composite/Facebook/YouTube

China

Chinese paraglider cheats death after flying to 28,000ft, gets 6 month ban

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Chinese paraglider Peng Yujiang had a lucky escape after being carried to 28,000 ft. Photo: Weibo/Chinese Weather Enthusiasts

China Personalities

China ‘goddess’ actress returns in crime thriller, captivating Cannes audiences

China’s “goddess” actress, Gao Yuanyuan, has made a comeback in a Hong Kong crime thriller, wowing audiences at this year’s Cannes Film Festival. Photo: SCMP composite/Weibo

Hong Kong

The Hong Kong bar owner who climbed over dead to stand on top of the world

Raj Gurung poses at the summit of Mount Everest with a Hong Kong flag. Photo: Dreamers Destination Treks & Expedition
The MPF’s total assets stood at HK$1.3 trillion (US$167 billion) at the end of 2024. Photo: Eugene Lee
Mandatory Provident Fund (MPF)

MPF fund managers told to gird for US holdings after Moody’s cut

About 37 per cent of MPF’s US$167 billion total assets were invested in bond and balanced funds at the end of 2024.

Banking & finance

Wealthy investors see ‘time to buy’ Hong Kong stocks: Standard Chartered

Banking & finance

Young Hong Kong investors want AI involved in their portfolios, survey says

US-China relations

Trump’s ‘gold card’ visa flops among rich Chinese amid trade war, crime fears

Chinese investors are unfazed by the visa’s US$5 million price tag, but have concerns about taxes, crime and the policy’s legality.

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Illustration: Brian Wang
Banking & finance

OCBC plans to stay the course in Hong Kong, hire talent despite trade war

OCBC has no intention to change its planned US$192 million investment in Hong Kong and Macau, CEO Helen Wong says.

Millionaires and billionaires

Singapore’s NUS, China’s Tsinghua among top schools producing rich alumni

US universities dominate a global ranking by Altrata, led by Harvard with 18,000 ultra-rich alumni, or 4 per cent of the global total.

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Banking & finance

HSBC’s sweeping revamp leads to surprise Hang Seng Bank lay-offs

Some departments lose up to 20 per cent of their staff, while the hardest-hit team is cut in half, sources say.

Commuters cross a street in Hong Kong’s Central district on May 17, 2024. Photo: Yik Yeung-man
Family offices

Why multifamily offices could yield bigger benefits for Hong Kong

Hong Kong can boost its economy, create jobs and generate positive global image with multifamily offices, Raffles Family Office CEO says.

Family offices

Trump’s tariffs are driving Asia’s ultra-rich investors away from US assets

About 10 family offices of the ultra-rich told Bloomberg they’re reducing their exposure or freezing investments, mostly in US equities and Treasuries.

Banking & finance

HSBC revamps Hong Kong mobile app to boost user experience, convenience

HSBC has about 6.2 million customers in Hong Kong; its active mobile user base almost doubled between 2020 and 2024.

People walking past a lion sculpture outside HSBC’s main office building in Central. Photo: Sun Yeung
Banking & finance

Hong Kong’s digital banks seek post-Covid growth in wealth management

Hong Kong’s digital banks plan to expand wealth management businesses as deposits and loans surge.

A pedestrian in front of a currency mural on a shop’s gate in Hong Kong on 26 December 2024. Photo: Antony Dickson
Family offices

Hong Kong family offices should unload US assets, look to Japan, UAE, advisory says

Now is a ‘critical moment’ to ‘get rid of the US’, especially equities and Treasuries, to ‘maintain lower risk-return ratios’, CEO says.

Banking & finance

HSBC to buy back US$3 billion in stock after quarterly profit beats estimates

HSBC says in a worst-case scenario, it could book an additional bad debt provision to guard against a potential global economic slowdown.

Mandatory Provident Fund (MPF)

UK fund manager Schroders to invest more in Hong Kong, CEO says

‘When we think about where wealth is growing the fastest, it is in Asia,’ Richard Oldfield says.

Richard Oldfield, group chief executive of Schroders, pictured at the firm’s office in Admiralty on April 14, 2025. Photo: Sun Yeung
Insurance

Hong Kong’s 2024 life insurance sales soar 21% to record US$28 billion

Mainland Chinese tourists last year spent HK$62.8 billion (US$8 billion) on life and medical policies, up 6.5 per cent from 2023, according to the Insurance Authority.

Insurance sales agents approach mainland tourists in Canton Road, Tsim Sha Tsui. Photo: Eugene Lee
Banking & finance

China’s wealthy are hoarding cash amid an uncertain economy, survey finds

Chinese high-net-worth investors are wary of taking risks during a period of intense turbulence.

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Family offices

Exclusive | Hong Kong needs more museums, talent to promote art trading

Hong Kong’s low taxes, proximity to China and an art-storage facility at the airport can attract family offices to dabble in art trading.

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Food and agriculture

Smell of success: fresh Malaysian durians are taking bite out of China’s market

While Thailand dominates durian sales in China, sales of the Malaysian fruit have grown tenfold from last year, industry insiders say.

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Fresh durians from Malaysia displayed at a supermarket in Zhengzhou on August 25, 2024. Photo: Xinhua
Family offices

‘Your capital is safe’ in Hong Kong, financial secretary reassures family offices

The China-US tariff war underscores Hong Kong’s soundness as a stable destination for wealthy families’ investments, Paul Chan says.

Banking & finance

Wealthy investors look to Europe, Asia amid US tariff risks: Deutsche Bank

Conversations around diversification and hedging have grown since US tariffs became a reality, Deutsche Bank executive says.

Banking & finance

Exclusive | HSBC to offer anti-ageing treatments, medical check-ups at Hong Kong wealth hub

The wealth centre, which will open in the second half, is aimed at the growing silver economy, HSBC Life’s Daisy Tsang says.

Daisy Tsang, CEO of HSBC Life in Hong Kong and Macau, says she strongly believes in Hong Kong’s potential as a hub for wealthy customers. Photo: Sun Yeung
Banking & finance

Hong Kong’s finance sector embraces GenAI, with adoption to reach 90% in 5 years

GenAI applications have the potential to lead to a more curated customer experience, Academy of Finance CEO Enoch Fung says.

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Enoch Fung (left), CEO of the Hong Kong Academy of Finance and executive director of Hong Kong Institute for Monetary and Financial Research (HKIMR), and Giorgio Valente, head of HKIMR, release a report titled “Financial Services in the Era of Generative AI: Facilitating Responsible Adoption” on Wednesday. Photo: Handout
Banking & finance

Resist ‘buying the dip’, Citi bankers caution amid global sell-off

While a bear market rally can occur, it will not last and it is too early to buy the dip, according to strategists at BCA Research.

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Banking & finance

Exclusive | Goldman Sachs brings art advisory service to Asia’s ultra-rich

Bank’s private-wealth division helps clients navigate ‘high degree of complexity’ in the world’s second-largest art market.

Banking & finance

Exclusive | Sun Life sees Hong Kong as ‘most important’ market in Asia for life insurers

New insurance premiums rose 330 per cent between 2019 and 2024, lifting Sun Life’s ranking to fifth from 12th, according to company data.

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There is a big need to help high net-worth customers with inter-generational financial planning, inheritance or liquidity management, says Manjit Singh, President of Sun Life Asia. Photo: Sun Yeung
Family offices

Exclusive | Hong Kong’s soon-to-open art-storage facility is an incentive for family offices

The complex at Skytopia airport city will be ready this year or early next year and enhance Hong Kong’s role as an art-trading centre.

Jason Fong, global head of family office at InvestHK, the airport art-storage facility will nhance Hong Kong’s role as an art-trading centre. Photo: Jonathan Wong
Fintech

Hong Kong online broker Futu launches DeepSeek-powered tools

Firm joins around 20 Chinese brokers and fund managers, including Sinolink Securities and CICC Wealth Management, in embracing DeepSeek.

Mandatory Provident Fund (MPF)

Hong Kong’s MPF gains US$4.5 billion in first quarter due to market rally

Hong Kong and China equities led all asset classes in the first quarter, while US equities slumped, according to MPF Ratings.

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