Invest Hong Kong Officially Launches Family Office Service Network

Invest Hong Kong officially launched the Family Office Service Provider Network (Family Office Service Network), hoping to promote Hong Kong as the first choice for global family offices. Chen Maobo said in his speech at the launching ceremony: "Hong Kong has a thriving financial ecology, top-notch financial infrastructure, and excellent professional service providers. In addition, it brings together investment opportunities from the Mainland and around the world. It is naturally an ideal location for global family offices. It was mentioned in the last policy address that the goal is to promote no less than 200 family offices to set up or expand their business in Hong Kong by the end of 2025. After the "Yu Ze Hong Kong" summit forum, many international family office decision makers have indicated that they are preparing or even have decided to settle in Hong Kong. Chen Haolian, deputy secretary of the Hong Kong Financial Services and Treasury Bureau, also recently publicly stated that Hong Kong, as Asia's leading wealth management center and the country's international financial center, is interconnected with the mainland market and is an ideal location for family offices. The Hong Kong SAR government will provide Invest Hong Kong with HK$100 million in the next three years to attract more family offices to Hong Kong. The "Policy Declaration on the Development of Family Office Business in Hong Kong" issued by the Hong Kong Special Administrative Region Government on March 24, 2023 proposed eight policy measures, one of which is to establish a family office service network to create a thriving ecosystem and continue to support the local Set up or expand business in Hong Kong with global family offices.