Hong Kong 3 Key Events for Financial Mega Event Week in March 2024: Wealth for Good in Hong Kong Summit 2024 for Family Offices to be Held on 27th March 2024, Milken Institute Global Investors’ Symposium on 26th March 2024 & One Earth Summit on 25th March 2024
8th March 2024 | Hong Kong
The Hong Kong government announced 3 key events for the Financial Mega Event Week in March 2024, with the Wealth for Good in Hong Kong Summit 2024 for family offices to be held on 27th March 2024 (Theme: “Growing with Certainty Amid Growing Uncertainty”), Milken Institute Global Investors’ Symposium on 26th March 2024 and the One Earth Summit on 25th March 2024. In 2023, the Wealth for Good in Hong Kong Summit 2023 held on 24th March 2023 (Friday) in Hong Kong was attended by some of the most influential family offices from around the world with more than 100 key decision makers discussing on Family Offices, Tech, Philanthropy, Green & Art, and with a Principal Dinner Speech by Hong Kong Chief Executive John Lee. The guest speakers comprises of the largest family offices in the world & billionaires including Richard Li (Pacific Century, Son of Li Ka-Shing), Yahoo Jerry Yang, Xiaomi KK Wong, Sequoia China Neil Shen, EQT Asia Jean Eric Salata, Sun Hung Kai Properties Kwok Kai-fai, Paul Desmarais III, Efrat Peled, Philip Sohmen, Robert Rosen & many more. The panel sessions were moderated by Andrew L. Cohen (JP Morgan Private Bank Executive Chairman), Christopher Hui (Hong Kong Secretary for Financial Services & the Treasury), Ronnie Chan (Hang Lung Properties Chair), Poman Lo (Founder of Institute of Sustainability & Technology, Founder of AlphaTrio Capital, Vice Chairman, Regal Hotels Group) and Amy Lo (Co-Head, UBS Wealth Management APAC; Head & Chief Executive, UBS Hong Kong). The Wealth for Good in Hong Kong summit focused on 4 key themes – Wealth for Tech, Wealth for Philanthropy, Wealth for Green and Wealth for Art (Hong Kong’s unique strengths to establish family offices). See below for the Summit summary, welcome speech, opening speech, speakers lineup & photos:
“ Hong Kong 3 Key Events for Financial Mega Event Week in March 2024: Wealth for Good in Hong Kong Summit 2024 for Family Offices to be Held on 27th March 2024, Milken Institute Global Investors’ Symposium on 26th March 2024 & One Earth Summit on 25th March 2024 “
Wealth for Good in Hong Kong Summit 2023: Attended by Most Influential Family Offices Discussing on Family Offices, Tech, Philanthropy, Green & Art and a Principal Dinner Speech by Hong Kong Chief Executive John Lee
25th March 2023 – The Wealth for Good in Hong Kong Summit 2023 held on 24th March 2023 (Friday) in Hong Kong was attended by some of the most influential family offices from around the world with more than 100 key decision makers discussing on Family Offices, Tech, Philanthropy, Green & Art, and with a Principal Dinner Speech by Hong Kong Chief Executive John Lee. The guest speakers comprises of the largest family offices in the world & billionaires including Richard Li (Pacific Century, Son of Li Ka-Shing), Yahoo Jerry Yang, Xiaomi KK Wong, Sequoia China Neil Shen, EQT Asia Jean Eric Salata, Sun Hung Kai Properties Kwok Kai-fai, Paul Desmarais III, Efrat Peled, Philip Sohmen, Robert Rosen & many more. The panel sessions were moderated by Andrew L. Cohen (JP Morgan Private Bank Executive Chairman), Christopher Hui (Hong Kong Secretary for Financial Services & the Treasury), Ronnie Chan (Hang Lung Properties Chair), Poman Lo (Founder of Institute of Sustainability & Technology, Founder of AlphaTrio Capital, Vice Chairman, Regal Hotels Group) and Amy Lo (Co-Head, UBS Wealth Management APAC; Head & Chief Executive, UBS Hong Kong). The Wealth for Good in Hong Kong summit focused on 4 key themes – Wealth for Tech, Wealth for Philanthropy, Wealth for Green and Wealth for Art (Hong Kong’s unique strengths to establish family offices). See below for the Summit summary, welcome speech, opening speech, speakers lineup & photos:
The Financial Secretary, Mr Paul Chan: “Under the ‘one country, two systems’ principle, Hong Kong has a common law regime and a regulatory system that aligns perfectly with global standard. Our robust financial markets develop in a stable and orderly way. We have the unique advantage of strong support of the motherland while being closely connected to the world. Our world-class financial infrastructures plus a diversified and efficient capital market that connects the Mainland and the global capital markets put us in the forefront as a leading asset and wealth management hub in the world. At the same time, Hong Kong in recent years has seen solid development in terms of green and sustainable finances, innovation development, art and culture industries as well as philanthropy, making the city an ideal base for global family offices.”
The Secretary for Financial Services and the Treasury, Mr Christopher Hui: “We are committed to providing a conducive environment for global family offices to thrive in Hong Kong. A comprehensive set of policy measures is now in place tailored to the holistic and unique needs of family wealth owners. The WGHK marks the start of a new journey, and I am confident we can co-curate with all stakeholders a family office ecosystem that benefits all.”
The Director-General of Investment Promotion at InvestHK, Mr Stephen Phillips: “The WGHK will open up a world of new opportunities for family offices from around the globe. Hong Kong’s fast-moving, dynamic business and cultural environment has shaped a unique East-meets-West centre for international cultural exchange. This aligns well with Hong Kong’s role as a critical bridge, seamlessly connecting the Mainland and global capital markets.”
Wealth for Good in Hong Kong Summit 2023: Attended by Most Influential Family Offices
Wealth for Good in Hong Kong Summit demonstrates city status as world-leading family office hub
24th March 2023 – The Hong Kong Special Administrative Region Government announced today (March 24) the Wealth for Good in Hong Kong Summit (WGHK) attracted some of the most influential family offices around the world, which further showcases Hong Kong’s appeal as a world-leading international asset and wealth management hub and its long-term future. Organised by the Financial Services and the Treasury Bureau and Invest Hong Kong (InvestHK), the summit took place at the Hong Kong Palace Museum and was attended by over 100 key decision makers from global family offices and their professional teams across Hong Kong, the Mainland, North America, Europe, other Asian regions, the Middle East and other parts of the world.
The top-level exclusive summit in Hong Kong gathered a world-class cast of leading figures from the global investment, technology, art, sustainability and philanthropy worlds, to discuss the most pressing issues facing family offices today. The “Wealth for Good” theme captured two critical priorities faced by family offices today: wealth preservation and sustaining long-term growth, coupled with the need to positively impact society and communities. Featured summit panel discussions were Family Office Sharing, Wealth for Tech, Wealth for Philanthropy, Wealth for Green and Wealth for Art. A list of speakers is enclosed in the Annex.
Today the Government also issued a Policy Statement on developing family office businesses in Hong Kong, unveiling eight measures with favourable packages and services aimed at helping family wealth owners establish a presence in Hong Kong. Some of the new measures include a new Capital Investment Entrant Scheme, tax concessions, a new Hong Kong Academy for Wealth Legacy, establishing art storage facilities at the airport and developing Hong Kong as a philanthropic centre.
The WGHK speakers also observed the significant and diverse investment opportunities available to family offices in Hong Kong as it sits at an ideal pan-Asian location and continues to cement its status as Asia’s world city.
Welcome Remarks:
1. Paul CHAN, Financial Secretary, HKSAR
Family Office Sharing Session:
- Paul DESMARAIS III (Chairman and CEO, Sagard)
- Efrat PELED (Chairman and CEO of Arison Investments)
- Adam Kai Fai KWOK (Executive Director, Sun Hung Kai Properties Limited)
- Philip SOHMEN (Founder and CEO, Kiri Capital)
Moderator: Andrew L. COHEN (Executive Chairman, Global Private Bank, J.P. Morgan)
Opening Remarks:
1. Christopher HUI, Secretary for Financial Services and the Treasury, HKSAR
Panel Discussion: Wealth for Tech
- Richard LI (Chairman and Chief Executive, Pacific Century Group)
- Jerry YANG (Founding Partner, AME Cloud Ventures; Co-founder and former CEO,
Yahoo! Inc) - Neil SHEN (Founding and Managing Partner, Sequoia China)
- KK WONG (Co-Founder of Xiaomi; Director of Xiaomi Foundation)
Moderator: Christopher HUI, Secretary for Financial Services and the Treasury, HKSAR
Panel Discussion: Wealth for Philanthropy
- Robert ROSEN (Director, Philanthropic Partnerships, Bill & Melinda Gates Foundation)
- Chong CHEN (President and Party Secretary of the CPC Committee, Guoqiang
Foundation; Non-executive Director, Country Garden Holdings Company Limited) - Gabriel LEUNG (Executive Director, Charities and Community, Hong Kong Jockey Club)
- Ronna CHAO (CEO, Novel Investment Partners Limited)
Moderator: Ronnie C. CHAN (Chair, Hang Lung Properties Limited)
Panel Discussion: Wealth for Green
- Hiromichi MIZUNO (Tesla Board member; Ex CIO, GPIF; Former United Nations Special Envoy for Innovative Finance and Sustainable Investments)
- Jean Eric SALATA (Chairman, EQT Asia; Head, BPEA EQT)
- Jun MA (Chairman and President, Hong Kong Green Finance Association)
- Cheuk Wan FAN (Chief Investment Officer, Asia, HSBC Global Private Banking and
Wealth)
Moderator: Poman LO (Founder, Institute of Sustainability and Technology; Founder and Managing Partner, AlphaTrio Capital; Vice Chairman, Regal Hotels Group)
Panel Discussion: Wealth for Art
- Noah HOROWITZ (CEO, Art Basel)
- Uli SIGG (Collector, Entrepreneur, Former Diplomat, Sigg Collection)
- Bernard Charnwut CHAN (Chairman, M Plus Museum Limited)
Moderator: Amy LO (Co-Head UBS Wealth Management APAC, Head and Chief Executive UBS Hong Kong Branch, Group Managing Director)
1) Welcome Remarks – Hong Kong Financial Secretary, Mr Paul Chan
Following is the opening remarks by the Financial Secretary, Mr Paul Chan, at the Wealth for Good in Hong Kong Summit Luncheon today (March 24):
Distinguished guests, ladies and gentlemen,
Good afternoon. It is a great pleasure to welcome you to the Wealth for Good in Hong Kong Summit, and to Hong Kong. This is our inaugural family office gathering. I’m delighted you could join us for lunch and the informative Summit to follow, at this stately Hong Kong Palace Museum, where we treasure and proudly present our national heritage.
Once you’ve had time to digest the unique advantages Hong Kong has for you and your family office, I’m confident you’ll be joining us for good, right here in Hong Kong.
Hong Kong for family offices
Allow me to spend some minutes to elaborate why Hong Kong is the prime choice for the top global family offices. It all starts with trust and security. For a long time, Hong Kong has won trust from investors from all around the world. Under the “one country, two systems” policy, Hong Kong has maintained the common law system, and the judiciary exercises its powers independently. Our regulatory regimes align with the highest international standards. We maintain a freely convertible currency and free flow of capital with no exchange control. And our country has made a solemn commitment to the world that the “one country, two systems” policy is to stay in the long run.
Investors’ trust in us is also built on experience. They know we set clear rules for our markets and ensure a level playing field. They know, too, that policies and practices are implemented in a transparent, consistent and predictable manner. Besides, we attach top priority to financial stability and security. Through sound and prudent regulation and monitoring, we make sure that our financial sector has built a strong buffer and is resilient, despite external turbulence. Take our banking sector as an example. The capital adequacy ratio is at 21 per cent, and the liquidity coverage ratio is at 163 per cent. They are all well above international standards. In the midst of the recent turmoil that is going on elsewhere, our financial sector has remained enviably sure and stable.
Beyond trust and security, Hong Kong’s world-class financial infrastructure, deep market liquidity and diversity of products and services are offering enormous growth and investment opportunities for family offices. Consider the breadth and depth of our equity market. At the end of December 2022, the market capitalisation of the Hong Kong Stock Exchange stood at around US$4.6 trillion, around 13 times of Hong Kong’s GDP (gross domestic product). It still has ample room to grow, given our status as China’s only international financial centre.
And Hong Kong is blessed with our expanding and deepening mutual access schemes with the Mainland, ranging from stocks to bonds, and more recently, to ETFs and swap contracts. We are the natural gateway to access both the Mainland market and international capital, and vice versa. We are the only city in the world where both the international advantage and the China’s advantage converge. Hong Kong also has a strong ecosystem of professional services, covering not just finance and accounting, but also legal and dispute resolution, risk management, and much more. They are here to help businesses to realise growth and development.
Our boundless opportunities also cover green investments. As you may have heard, in my recent Budget, I envision Hong Kong to be the leading international centre for greentech and green finance, where a complete, integrated and dynamic industry chain will rise and power the global quest for carbon neutrality. Leveraging our mature market of green finance, a burgeoning green technology sector, and our research and industrial synergies with the Guangdong-Hong Kong-Macao Greater Bay Area, this is set to be a booming sector where investments would be highly rewarding, and at the same time socially and environmentally impactful.
Hong Kong for life
Looking beyond wealth, assets and investments, we believe that Hong Kong is also the right place where you and your family office should go, for a number of good reasons. As you are physically here, I invite to you to take some time to explore our wonderful city. No need to worry about personal safety as we are one of the safest cities in the world. Try some of our over 200 restaurants recommended by Michelin, or the wanton noodles stores that are open till late night. Or join us for the mega events like the Rugby Sevens to be held next week, or the dragon boat races, or the Wine and Dine Festival later this year. And also see for yourselves our scenic country parks, which account for about 40 per cent of our territory, and the hills and the seas. Beyond Hong Kong, we are conveniently connected to the world, allowing you to reach many parts of Asia in just a couple of hours’ flight.
Arts and culture hub
On arts and culture, Hong Kong is equally vibrant and promising. I am sure you are aware of Art Basel and Art Central now held in Hong Kong, which are premier contemporary art events. Indeed, Hong Kong is one of the world’s largest art markets, with some US$8.4 billion in artwork, collectors’ pieces and antiques sold by auction in 2021. This dynamic art scene is set to further grow by our commitment to develop Hong Kong as an East-meets-West centre for international cultural exchange. Our new museums, like the Hong Kong Palace Museum and M+ here in the West Kowloon Cultural District, together with our world-class performing arts groups, are adding to the denser and dynamic artistic atmosphere of the city.
Hong Kong for philanthropy
What’s more, we know that it is the vision and value of family offices to do good for the local community and the world, driving positive impact for generations to come. For philanthropy, Hong Kong long has a proud history of private investment in welfare, and is home to some of Asia’s major philanthropists. We have a deep culture of giving, demonstrated by individuals’ charitable donations reaching US$1 billion (a year). Nearly 10 000 charitable organisations are registered in Hong Kong. With our strong financial connectivity, Hong Kong eyes developing ourselves as a philanthropic centre, helping family offices and philanthropists to use charitable capital to benefit those in need in Hong Kong, the Mainland and around the world.
A statement for family offices
Ladies and gentlemen, today, by welcoming you to Hong Kong, we are making a firm commitment to turning Hong Kong into a global family office centre. This morning, we published a policy statement on developing the family office business in Hong Kong. We have set out a variety of measures, ranging from offering competitive tax concessions for family-owned investment vehicles, to introducing a new capital investment entrant scheme to facilitate asset owners to come, live and prosper in Hong Kong. The statement truly represents the beginning of a journey for Hong Kong as we put family offices as a strategic priority. We are much devoted to creating a conducive and competitive environment for you to thrive in Hong Kong. Our dedicated team from Invest Hong Kong is here to serve you.
Ladies and gentlemen, I know I am standing between you and the fine lunch. Let me leave the talking to the very distinguished panelists of the luncheon and other speakers at the Summit who will share their valuable insights into Hong Kong’s promising prospects for you and your family offices.
Last but not least, I wish you all a rewarding Summit and a most enjoyable experience in our city. I look forward to seeing you here for good.
Hong Kong Financial Secretary,
Mr Paul Chan
2) Opening Remarks – Hong Kong Secretary for Financial Services and the Treasury, Mr Christopher Hui
Following is the opening remarks by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Wealth for Good in Hong Kong Summit today (March 24):
Distinguished guests, ladies and gentlemen,
Good afternoon. Welcome to the inaugural Wealth for Good in Hong Kong Summit organised by the HKSAR (Hong Kong Special Administrative Region) Government. We are delighted and honoured to have you here as part of our global family office community. This summit is a unique platform for all of us to share insights, connect with peers, and discover the opportunities and attractions of Hong Kong as a dynamic international city. Through this summit, we also wish to spark dialogue on how family wealth can be put in Hong Kong “For Good” and also used “For Good”, creating positive and lasting impacts across generations and borders.
We look forward and stand ready to support the establishment and growth of global family offices in Hong Kong with a comprehensive set of policy measures. This morning, we issued a policy statement on developing family office businesses, which outlines eight measures tailored to the holistic and unique needs of family wealth owners. Some of these measures include a new Capital Investment Entrant Scheme, tax concessions, a new Hong Kong Academy for Wealth Legacy, art storage facilities, and facilitating measures for philanthropy. This summit marks the start of a new journey, and we sincerely invite you to explore the offerings in the policy statement with us. I am confident that together we can co-curate a family office ecosystem that benefits all.
You are about to join four panel discussions that showcase a snapshot of opportunities Hong Kong has to offer. The panels cover four key themes including art, technology, green and sustainable development and philanthropy, and collectively they reflect how we intend to serve global family offices for your diverse goals and needs. Each panel features distinguished speakers who have made remarkable achievements in their fields and we are honoured to have them all here today. Moreover, many leading family offices and industry experts from Hong Kong are also joining us, and I look forward to the many collaborations arising from the new connections established today.
Hong Kong is a vibrant city and an international financial hub where you can discover exciting opportunities. Our market supports innovation and next-generation technologies with financing, and facilitates them in reaching global investors through our deep and liquid markets. These achievements are not accidental but the result of constant reforms and enhancements to our fundraising platform. They indeed demonstrate the dynamism and evolving nature of our market. Last year, we welcomed 62 new economy companies to our market, raising over US$8.6 billion through IPOs (initial public offerings). This was made possible by a listing reform we introduced in 2018 to facilitate listing of pre-revenue biotech companies and innovative companies with weight voting rights structures. Moving forward, we will soon take a further step to launch a regime to expand the listing channel of specialist technology companies, for example in the sectors of artificial intelligence, advanced materials, and new energy and environmental protection. This will further diversify and enrich our market, offering more investment choices for global family offices and asset owners like all of you looking for growth opportunities.
Besides reforming our IPO market, which is the traditional strength of Hong Kong, the dynamism and evolving nature of our market is also reflected by how we position ourselves facing disruptive new technologies, for example the virtual assets space. I am pleased to share with you that the Government is committed to establishing a facilitating environment with timely and necessary guardrails to mitigate actual and potential risks in accordance with international standards, so as to promote the sustainable and responsible development of the virtual assets and Web 3.0 sector in Hong Kong. This has been clearly communicated via a policy statement we issued in October last year, and it has indeed gained global attention. For family offices and asset owners, this demonstrates Hong Kong’s openness and supportive approach towards emerging technologies, and with that you may explore the synergies across various sectors in Hong Kong, for example between art and virtual assets, and create new business solutions and ecosystems in our market.
Ladies and gentlemen, Hong Kong is a vibrant and dynamic city that offers unparalleled opportunities for global family offices to grow and thrive. We are committed to providing a conducive environment for all of you to access the vast potential of Hong Kong, the Mainland market and beyond. We value your contributions to our economy and society, and we look forward to strengthening our partnerships with you in the future. Thank you very much for your support for the Wealth for Good in Hong Kong Summit. I hope you enjoy your stay in Hong Kong and have fruitful exchanges with your peers and partners in the days to come.
Hong Kong Secretary for Financial Services and the Treasury
Mr Christopher Hui
3) Principal Dinner Speech – Hong Kong Chief Executive, Mr John Lee
Following is the speech by the Chief Executive, Mr John Lee, at the Principal Dinner of the Wealth for Good in Hong Kong Summit today (March 24):
Distinguished guests, ladies and gentlemen,
Good evening, and welcome to tonight’s Wealth for Good in Hong Kong. This welcome dinner is all set because of what you have been doing in your own fields and because of your presence in Hong Kong today. I trust you found this afternoon’s summit more than informative. Personally, I find it reassuring and inspiring. I have no doubt that everyone in this room needs reassurance following the turmoil this month in banking and in finance generally.
It was only two weeks ago today that the first of a series of American regional banks collapsed. The shock waves spread across America, taking with it other regional institutions, before rippling across the Atlantic to Europe. Over the past week, we have witnessed what may well be just the beginning in the daunting process of transforming a banking giant founded in the 19th century. And the financial dust has yet to settle, in Switzerland, in America, or elsewhere in global banking. Fortunately, the Hong Kong banking sector’s exposure to the turmoil is insignificant. If anything, this global crisis only underscores the strength of our banking sector. We possess the strong capital and liquidity positions to handle potential shocks on a wide-ranging scale. At the end of December, the total capital adequacy ratio of authorised institutions incorporated in Hong Kong stood at 20 per cent. That, ladies and gentlemen, is well above the international minimum requirements of 8 per cent. In the fourth quarter of last year, the average liquidity coverage ratio of category-one institutions was 162 per cent. Again, that’s well above the statutory minimum requirement of 100 per cent. Meanwhile, our asset quality continues to be healthy, with a classified loan ratio of 1.38 per cent at the end of 2022. In short, the Hong Kong financial and banking sector is very healthy. Our adequacy and our liquidity levels are abundant. We are built to handle today’s, and tomorrow’s, market pressures. Built to reassure you and your future in Hong Kong.
That resounding reassurance is built, ladies and gentlemen, on the unique “one country, two systems” principle, implemented successfully in Hong Kong since 1997. Under the innovative principle of “one country, two systems”, Hong Kong is bestowed with the unparalleled advantage of having the strong support of our country, while maintaining robust connectivity with the rest of the world. It ensures that our embrace of capitalism, buttressed by the common law system, remains as strong as ever. President Xi Jinping has stated on various important occasions that “one country, two systems” is here to stay, and that Hong Kong’s capitalist system and way of life will remain unchanged in the long run. It is the bedrock for our stability. It also creates the secure environment for businesses to prosper.
For those of you interested in setting up a family office here, I want you to know that the thriving development of your business in Hong Kong is a central policy priority of the Hong Kong SAR (Special Administrative Region) Government. That is why, in my annual Policy Address last October, I emphasised the family office as “a key growth segment” of our asset and wealth management industry. It’s why we have invited you here today. It’s also why we issued, earlier today, a Policy Statement on Developing Family Office Businesses in Hong Kong. The new family office policy statement is wide-ranging. It covers everything from tax concessions and regulatory assistance, to a new Capital Investment Entrant Scheme, which offers a facilitated entry for residence by capital investments. We plan to provide profits tax exemption for family‑owned investment holding vehicles, managed by single family offices in Hong Kong, and we will continue to review our preferential tax regimes for funds and carried interest.
We also plan to establish a Hong Kong Academy for Wealth Legacy. The Academy will ensure that we have a continuing flow of the right talent to serve and manage your wealth in Hong Kong. Aside from offering all the elements of wealth management training, the Academy will focus on green and sustainable investment, investment in arts and culture, in philanthropy and more. Speaking of philanthropy, Hong Kong has a long history of private investment in welfare and other social causes. Our latest figure shows that close to 10 000 charities in Hong Kong are exempt from tax. As for business operations, their approved charitable donations under profits tax were nearly US$560 million in fiscal year 2020-21. For individual donors, the amount goes even higher, with their charitable donations allowed under salaries tax reaching nearly US$1 billion in the same year. We are also working to make it easier to apply for charitable tax exemption status.
InvestHK, our investment promotion agency that has helped organise today’s event, has set up a dedicated FamilyOfficeHK team to assist family offices in their philanthropic initiatives, communicating and co-ordinating with government departments and developing partnerships among organisations. The team will also launch a Network of Family Office Service Providers covering private banks, accounting and legal firms, trusts and other professional service companies. We want to ensure that our family offices have the comprehensive services they need to thrive in Hong Kong.
The good life extends well beyond business and finance. Hong Kong boasts a wealth of arts, culture and entertainment, a creative co-mingling of East and West. Under our country’s 14th Five-Year Plan, Hong Kong’s rise as an East-meets-West centre for international arts and cultural exchange is backed by national development strategies. You can see that right here in the West Kowloon Cultural District, which includes our venue today, the Hong Kong Palace Museum. Opened only last July, the museum features priceless national treasures from the Palace Museum in Beijing’s historic Forbidden City. West Kowloon is home, too, to the M+ Museum, Asia’s first global museum of contemporary visual culture. And consider this weekend in Hong Kong. Alongside Wealth for Good, we are hosting a Museum Summit, a gathering of some 1 300 prominent museum and heritage professionals from all over the world, today and through the weekend. Our two largest annual art fairs, Art Basel and Art Central, are also running today and tomorrow. This year’s Art Basel Hong Kong, if I may add, is the largest since 2019, featuring about 180 galleries from over 30 countries and territories. This is also prime time for sports here. The World City Championship golf tournament is taking place now at the scenic Hong Kong Golf Club. Next week, our beloved Hong Kong Sevens rugby tournament returns, promising an exciting weekend of rip-roaring revelry. Our calendar this year is filled with cultural extravaganzas, wine-and-dine delights and sporting events, alongside trade expos and high-level symposia. That’s Hong Kong, a global city built on business, trade and finance, a city infused with a flourishing, East-West culture. I invite you to make it your city. Your Hong Kong.
Ladies and gentlemen, I wish you all a memorable and enjoyable evening, and the best of family business in the years to come.
Thank you very much.
Hong Kong Chief Executive
Mr John Lee
Wealth for Good in Hong Kong Summit 2023 Family Office & Billionaire Speakers: Richard Li, Yahoo Jerry Yang, Xiaomi KK Wong, Sequoia China Neil Shen, EQT Asia Jean Eric Salata, Kwok Kai-fai, Paul Desmarais III, Efrat Peled, Philip Sohmen, Robert Rosen & more
22nd March 2023 – The Hong Kong Special Administrative Region (HKSAR) Government has announced the guest speaker list for the Wealth for Good in Hong Kong Summit to be held on 24th March 2023, attended by more than 100 key decision-makers of the largest family offices in the world & billionaires including Richard Li (Pacific Century, Son of Li Ka-Shing), Yahoo Jerry Yang, Xiaomi KK Wong, Sequoia China Neil Shen, EQT Asia Jean Eric Salata, Sun Hung Kai Properties Kwok Kai-fai, Paul Desmarais III, Efrat Peled, Philip Sohmen, Robert Rosen & many more. The panel sessions will be moderated by Andrew L. Cohen (JP Morgan Private Bank Executive Chairman), Christopher Hui (Hong Kong Secretary for Financial Services & the Treasury), Ronnie Chan (Hang Lung Properties Chair), Poman Lo (Founder of Institute of Sustainability & Technology, Founder of AlphaTrio Capital, Vice Chairman, Regal Hotels Group) and Amy Lo (Co-Head, UBS Wealth Management APAC; Head & Chief Executive, UBS Hong Kong). The Wealth for Good in Hong Kong summit will focus on 4 key themes – Wealth for Tech, Wealth for Philanthropy, Wealth for Green and Wealth for Art (Hong Kong’s unique strengths to establish family offices). See below for more info & speakers lineup:
Hong Kong Financial Secretary, Paul Chan: “The WGHK summit is a global premier event for family offices. We look forward to showcasing Hong Kong’s strengths and opportunities in asset and wealth management, innovation and technology, arts and culture, green development and philanthropy, thereby attracting more global family offices and asset owners to establish a presence in Hong Kong. On the day of the summit, the HKSAR Government will also release the ‘Policy Statement on developing family office businesses in Hong Kong’, announcing our policy directions for global family offices to drive positive impacts through wealth allocation.”
Hong Kong Secretary for Financial Services & the Treasury, Christopher Hui: “The speakers and guests at the WGHK summit are decision makers of leading family offices and industry experts from all around the world, reflecting Hong Kong’s unique attractiveness as an international asset and wealth management centre. I look forward to bringing global and Hong Kong family offices together at the WGHK summit to share the inspiring stories of Hong Kong as an international asset and wealth management centre.”
Wealth for Good in Hong Kong Summit 2023
Hong Kong Official Statement: The WGHK summit will be attended by more than 100 decision makers from global family offices and their professional teams across Hong Kong, the Mainland, North America, Europe, other Asian regions, the Middle East and around the world.
Organised by the Financial Services and the Treasury Bureau and Invest Hong Kong, the WGHK summit will take place this Friday (March 24 2023) at the Hong Kong Palace Museum.
In addition to the various exchange sessions at the summit, Invest Hong Kong will also present the Tai Hang Fire Dragon Dance, which has been suspended for 3 years due to the epidemic, at the Hong Kong Palace Museum, as a special performance for guests to experience Hong Kong’s unique folk culture. This festive event goes back to the end of the 19th century and is on the National List of Intangible Cultural Heritage of China.
Wealth for Good in Hong Kong Summit 2023 Family Office & Billionaire Speakers:
Family Office Sharing Session:
- Paul Desmarais III (Chairman and CEO, Sagard)
- Efrat Peled (Chairman and CEO, Arison Investments)
- Kwok Kai-fai, Adam (Executive Director, Sun Hung Kai Properties Limited)
- Philip Sohmen (Founder and CEO, Kiri Capital)
Moderator: Andrew L. Cohen (Executive Chairman, Global Private Bank, J.P. Morgan)
Wealth for Tech:
- Richard Li (Chairman and Chief Executive, Pacific Century Group)
- Jerry Yang (Co-Founder and former CEO, Yahoo! Inc.; Founding Partner, AME Cloud Ventures)
- Neil Shen (Founding Managing Partner, Sequoia China)
- KK Wong (Co-Founder, Xiaomi; Director, Xiaomi Foundation)
Moderator: Christopher Hui, the Secretary for Financial Services and the Treasury
Wealth for Philanthropy:
- Robert Rosen (Director, Philanthropic Partnerships, Bill & Melinda Gates Foundation)
- Chen Chong (President and Party Secretary of the CPC Committee, Guoqiang Foundation; Non-executive Director, Country Garden Holdings Company Limited)
- Gabriel Leung (Executive Director, Charities and Community, The Hong Kong Jockey Club)
- Ronna Chao (CEO, Novel Investment Partners Limited)
Moderator: Ronnie Chan (Chair, Hang Lung Properties Limited)
Wealth for Green:
- Hiromichi Mizuno (Tesla Board member; Ex CIO, GPIF; Former United Nations Special Envoy for Innovative Finance & Sustainable Investments)
- Jean Eric Salata (Chairman, EQT Asia; Head, BPEA EQT)
- Jun Ma (Chairman and President, Hong Kong Green Finance Association)
- Fan Cheuk-wan (Chief Investment Officer, Asia, HSBC Global Private Banking and Wealth)
Moderator: Poman Lo (Founder, Institute of Sustainability and Technology; Founder and Managing Partner, AlphaTrio Capital; Vice Chairman, Regal Hotels Group)
Wealth for Art:
- Noah Horowitz (CEO, Art Basel)
- Dr Uli Sigg (Collector, Entrepreneur, Former Diplomat, Sigg Collection)
- Bernard Charnwut Chan (Chairman, M Plus Museum Limited)
Moderator: Amy Lo (Co-Head, UBS Wealth Management APAC; Head and Chief Executive, UBS Hong Kong Branch; Group Managing Director)
Hong Kong Top-Level Family Office & Asset Owners Exclusive Event: Wealth for Good in Hong Kong Summit on 24th March 2023
9th March 2023 – Hong Kong is organising a top-level family office exclusive event, the Wealth for Good in Hong Kong Summit on 24th March 2023 (Friday) at the Hong Kong Palace Museum. The event is organised by the Hong Kong Special Administrative Region (HKSAR) Government (Financial Services and the Treasury Bureau, Invest Hong Kong) for global family offices & asset owners. Announcement: Promoting the setup and expansion of global family offices in Hong Kong is an important policy objective of the HKSAR Government. As announced by the Chief Executive in his Policy Address, a target is set in attracting no less than 200 family offices to establish or expand their operations in Hong Kong by end-2025. The HKSAR Government is also taking forward a legislative proposal to offer tax concessions for qualified family offices. The Summit covers 4 themes: 1) Wealth for Tech: Hong Kong’s financing capability to empower the next generation of technological innovations, and Hong Kong’s investment opportunities for global family offices 2) Wealth for Art: Hong Kong’s unique positioning as an East-meets-West centre for international cultural exchange 3) Wealth for Green: Hong Kong’s commitment in driving global transition towards green and sustainable development 4) Wealth for Philanthropy: Hong Kong’s role as a philanthropy centre for global family offices to deploy wealth for good causes.
Chief Executive, Mr John Lee: “The Wealth for Good in Hong Kong Summit showcases Hong Kong’s unique advantages as an international asset and wealth management hub to global family offices and asset owners. The summit will introduce to them the opportunities offered by Hong Kong for wealth allocation, fostering the positive and long-term development of family office businesses. Through the WGHK, the HKSAR Government will build stronger connections with decision makers of global family offices and assist them in exploring opportunities and implementing their development plans in Hong Kong, thereby encouraging more family offices to establish a presence. Family offices in Hong Kong and industry leaders will also exchange views and network with global peers and partners.”
The Financial Secretary, Paul Chan: “Our country supports Hong Kong in strengthening its position as an international asset management centre. The HKSAR Government has continued to enhance Hong Kong’s competitiveness as an international asset and wealth management centre through a series of reform measures, including the provision of tax concessions, the establishment of a dedicated service team, and the active cultivation of talents in relevant sectors, with a view to attracting more family offices to set up in Hong Kong. The WGHK will be a global premier event for family offices, showcasing investment and a wide range of opportunities in areas like arts and culture, green development and philanthropy that Hong Kong can bring to family offices. It will not only enhance Hong Kong’s attractiveness and position as a family office hub, but also whip up the demand for asset management and other related professional services, creating more business opportunities for Hong Kong.”
The Secretary for Financial Services and the Treasury, Christopher Hui: “We selected the Hong Kong Palace Museum as the venue for the WGHK because this new cultural landmark displays priceless national treasures from the Palace Museum along with the finest arts from around the world. Guests will be able to enjoy the essence of blending East and West, and old and new, as well as to appreciate a unique ambience of an East-meets-West centre for international cultural exchange. This coincides with Hong Kong’s role as a bridge connecting the Mainland and global capital markets.”
Hong Kong Top-Level Family Office & Asset Owners Exclusive Event: Wealth for Good in Hong Kong Summit on 24th March 2023
Hong Kong is organising a top-level family office exclusive event, the Wealth for Good in Hong Kong Summit on 24th March 2023 (Friday) at the Hong Kong Palace Museum. The event is organised by the Hong Kong Special Administrative Region (HKSAR) Government (Financial Services and the Treasury Bureau, Invest Hong Kong) for global family offices & asset owners.
As announced in the 2023-24 Budget by the Financial Secretary, the WGHK is a key project to attract more global family offices to Hong Kong, and it will cover the following key themes:
- Wealth for Tech: Hong Kong’s financing capability to empower the next generation of technological innovations, and Hong Kong’s investment opportunities for global family offices;
- Wealth for Art: Hong Kong’s unique positioning as an East-meets-West centre for international cultural exchange;
- Wealth for Green: Hong Kong’s commitment in driving global transition towards green and sustainable development; and
- Wealth for Philanthropy: Hong Kong’s role as a philanthropy centre for global family offices to deploy wealth for good causes.
More details about the WGHK will be released by the HKSAR Government.
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