Secretary for Financial Services says HK remains most stable asset management hub

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Tensions in the Middle East continue to rise. Hong Kong’s Secretary for Financial Services and the Treasury, Christopher Hui, said that while there are risks, there are also opportunities, stressing that Hong Kong is the most stable asset-management hub.

The conflict in the Middle East has continued for more than half a month, pushing international oil prices sharply higher. Hui said this is a challenge for the whole world. The government will ensure financial markets remain smooth and stable, and it has also noticed reports that some funds in the Middle East are considering changing their allocations.

Hui said Hong Kong’s security, stability, and predictability are becoming increasingly evident. Recent reports say professionals such as lawyers and banks have been receiving enquiries from family offices and wealth-management businesses that are interested in Hong Kong, so the government has recently been preparing a range of work related to Hong Kong’s role as an asset-management centre.

He added that this is timely, allowing Hong Kong—amid a more turbulent global situation—to send a strong message to the world: that Hong Kong, no matter what, is the most stable and safest, and an ideal platform and centre for asset management.

He also said that by the end of 2028, the government will help attract or support the establishment or expansion of more than 220 additional family offices in Hong Kong.