The Enterprise’s Post

Check out our #WeeklyNewsUpdate for Week 29 of 2024:   1️⃣ Hong Kong Remains a Top Global Asset and Wealth Management Hub. 2️⃣ Accelerating Digital Transformation in Hong Kong's Financial Services Industry. 3️⃣ InvestHK aids 322 firms in expansion to Hong Kong.     Read our full update: https://lnkd.in/gCkVwNwj   #BlueConceptAsia #Finance #HongKong

🌏 Blue Concept Asia Weekly Newsletter 📈 It' is time for our weekly roundup of the latest business and financial news from Hong Kong. 📊 Stay tuned for more updates and insights! Feel free to share your thoughts in the comments below. #BlueConceptAsia #Business #Updates #Newsletter

Hong Kong's total private wealth assets under management saw a modest increase last year, reaching approximately HK$9 trillion ($1.2 trillion). This marks the first annual growth since 2020. Inflows reached approximately HK$341 billion($ 43.81 billion) in 2023, representing a threefold increase over 2022, according to a report released by the city's Private Wealth Management Association (PWMA) and KPMG. Hong Kong has been seeking to bring money and rich families to the financial hub through tax concessions and talent programs, after strong outflows during the pandemic. As mainland Chinese return to the city seeking higher-yielding offshore investments, assets under management could surpass $2.3 trillion by 2030, according to estimates from Bloomberg Intelligence. When it comes to attracting more family offices, a key target of Hong Kong’s government, 21% of the firms are targeting new corridors in Southeast Asia and 15% are focusing on the Middle East, the report showed. This presents a promising outlook for Hong Kong. #Hongkong #financialhub #wealthmanagement #familyoffices

Hong Kong’s total private wealth assets under management rose slightly last year to about HK$9 trillion ($1.2 trillion), the first annual growth since 2020, according to a report released on Friday. https://lnkd.in/e-uqyi-d

Talent is the powerhouse driving innovation in Hong Kong's banking industry and reinforcing the city's role in the development of the Greater Bay Area.   In a recent article by our CEO, Carrie Leung, she emphasised the need to bring in fresh perspectives and bolster the industry's talent through ongoing recruitment and training. This is increasingly important as cooperation within the Greater Bay Area on topics such as RMB business, green finance and asset management expands.   Continuously strengthening the talent pool through collaboration within the region is crucial to maintaining Hong Kong's position as an international financial hub. #GreaterBayArea #BankingInnovation #FinanceTalent

🌐 **Hong Kong's Private Wealth Management Industry: Signs of Growth** According to a recent report, Hong Kong's private wealth management sector has rebounded, showing positive growth in 2023. Contributing factors include improved market sentiment and increased client engagement, with a focus on sustainable investments and digital transformation driving the industry's recovery. The report also highlights evolving client expectations and regulatory developments shaping the future of wealth management. 🔗 **Source:** [KPMG - Hong Kong’s Private Wealth Management Industry Returns to Growth](https://lnkd.in/eBMWiSsq)

Market Intelligence | Discover New Possibilities with Redefined Risk Mgt Hong Kong's finance sector is searching for new engines to boost the capital market. Written by our Chief Analyst Hanshih Toh, the article explores the opportunities for Hong Kong to reinvent itself.   Exploring opportunities beyond China, Hong Kong financial players are riding on the budding Southeast Asian markets, like Malaysia, Indonesia, Vietnam, and the Philippines, where companies seek to raise capital. Venturing into new opportunities exposes investors to new risk profiles. Embrace these possibilities with our comprehensive and customized due diligence services, designed to help clients make smart and informed investment decisions. Follow us to learn about our due diligence and risk consulting services. https://lnkd.in/gethuhmD Melissa Tan #MarketIntelligence #DueDiligence #IPO #FundRaising #M&A #PrivateEquity #RiskManagement #SecondaryListing  

Hong Kong’s Private Wealth Management Sector Shows Signs of Recovery Hong Kong’s total private wealth assets under management saw modest growth last year, reaching approximately $1.2 trillion. This marks the first annual increase since 2020, a period marked by significant outflows due to the pandemic. The city has been actively attracting high-net-worth individuals and family offices through tax incentives and talent programmes. Notably, inflows in 2023 reached HK$341 billion – three times higher than in 2022, according to a joint report by the Private Wealth Management Association (PWMA) and KPMG. However, the overall assets under management still lag behind the 2020 peak of HK$11.3 trillion. Looking ahead, as mainland Chinese investors return to Hong Kong seeking higher-yield offshore opportunities, Bloomberg Intelligence projects assets under management could surpass $2.3 trillion by 2030. Challenges remain, including concerns over political stability, regulatory changes, competition from rival hubs, and limited access to mainland Chinese assets. Despite this, Hong Kong continues to excel as a leading destination for investments in artificial intelligence, machine learning, biotechnology, healthcare innovation, and virtual assets. At Octagon, we recognise the value of portfolio diversification and exploring unconventional investment opportunities. If you are considering Hong Kong as part of your wealth management strategy, get in touch with us to explore your options. Source: https://lnkd.in/dDzw35St  

🚀 Hong Kong’s Trust Market is Booming! 🚀 💰 Trust-held assets in Hong Kong reached USD 665 billion in 2024, up 4% from 2022. 🌍 By 2027, Hong Kong is projected to become the world’s top cross-border wealth management center, surpassing Switzerland with a 7.6% CAGR! 📈 A testament to its strategic location, robust legal framework, and growing appeal to global investors. #HongKong #WealthManagement #Finance #TrustMarket #GlobalEconomy

Hong Kong as an ongoing conduit for global wealth hub is a powerful signal of the shifting financial gravity towards Asia. With trillions in potential cross-border wealth flows, Hong Kong’s strategic infrastructure and access to affluent mainland Chinese clients give it a unique position to capitalise on both local and offshore wealth management opportunities. For APAC’s asset managers, this is a compelling moment to fortify partnerships and design solutions that meet the region's fast-evolving demand for diversification and legacy planning. #HongKongFinance #WealthManagement #APAC