TechFlow news, March 30 — According to the Hong Kong Economic Journal, Financial Secretary and Treasurer Paul Chan said that the number of family offices established in Hong Kong is expected to surpass 3,000 in the short term, with more than 2,700 already set up. He revealed that authorities are planning to expand the scope of investments eligible for tax concessions for family offices to include private lending, virtual assets, and carbon credits, aiming for the relevant regulations to take effect on April 1, 2025.
Paul Chan noted that despite an increasingly complex global geopolitical environment, Hong Kong continues to attract significant investor interest due to its stable regulation and predictability. He also mentioned that Hong Kong is striving to become the world's largest cross-border wealth management center, with this goal expected to be achieved by 2027–2028.
