Financial Services and Treasury Bureau: 36 family offices were established or expanded in Hong Kong in the first four months of this year.
The Financial Services and the Treasury Bureau (FSB) stated that 36 family offices have established or expanded their operations in Hong Kong in the first four months of this year, with approximately 160 more indicating they are actively considering developing in Hong Kong. Among these, about 30 family offices are from Europe. The FSB reiterated its goal of assisting at least 220 family offices in establishing or expanding their businesses in Hong Kong between 2026 and 2028.
The Financial Services and the Treasury Bureau (FSB) stated that 36 family offices have established or expanded their operations in Hong Kong in the first four months of this year, with approximately 160 more indicating they are actively considering developing in Hong Kong. Among these, about 30 family offices are from Europe. The FSB reiterated its goal of assisting at least 220 family offices in establishing or expanding their businesses in Hong Kong between 2026 and 2028.
The FSB posted on its social media page that Deputy Secretary for Family Offices Chan Ho-lim visited Rome, Italy from Monday (11th) to Wednesday (13th) to attend the European Family Office Investment Summit. He met with local financial institutions and government officials, actively promoting Hong Kong's advantages as a leading international financial center and family office hub in Asia.
The FSB stated that Chan Ho-lim delivered a keynote speech at the summit and exchanged views with representatives from several European family offices during a roundtable discussion, introducing Hong Kong's competitive policy environment and "telling Hong Kong's story well" to the world. Many participating family offices expressed interest in establishing regional offices in Hong Kong, and InvestHK colleagues were present to facilitate follow-up assistance in their establishment in Hong Kong.
The Financial Services and the Treasury Bureau stated that Hong Kong has become the world's second-largest and Asia's largest cross-border wealth management center; among global cities, Hong Kong ranks second and Asia's largest in the number of ultra-high-net-worth individuals. The Hong Kong family office business continues to grow, with over 3,380 single-family offices operating in Hong Kong by the end of 2025, representing an increase of over 25% in two years. It is estimated that operating expenses alone have generated approximately HK$12.6 billion in annual revenue for the Hong Kong economy and directly employed over 10,000 full-time professionals.
During the visit, Chen Haolian met and exchanged views with several Italian banks, fund companies, and state-owned enterprises. He introduced Hong Kong's advantages in asset and wealth management and professional services to these institutions, encouraging them to leverage Hong Kong as a gateway to the Asian and mainland China markets, and to utilize Hong Kong's well-developed financial infrastructure and international market to assist their clients and investors in asset allocation within Asia. Some participants expressed their willingness to actively consider expanding their businesses in Hong Kong, while others indicated plans to organize a delegation to Hong Kong for inspection and exchange in the near future.
The Financial Services and the Treasury Bureau also noted that Chan Ho-lim met separately with Riccardo Barbieri Hermitte, Director General of the Finance Department of the Italian Ministry of Economy and Finance; Fabio Massoli, Chief Financial Officer of CDP, the Italian sovereign financial institution; and the leadership of the Italian Banking Association to exchange views on bilateral financial cooperation and development, exploring ways to strengthen cooperation in facilitating capital flows, supporting cross-border investment by enterprises, and fintech. Italy is currently advancing several infrastructure projects, and companies in the fields of biotechnology, renewable energy, and green industries are developing rapidly, all requiring financing and market expansion.
Chan Ho-lim mentioned that Hong Kong's IPO market ranked first globally in terms of fundraising last year, and several Italian companies are already listed in Hong Kong. Hong Kong is also Asia's largest international bond issuance center and the world's largest offshore RMB center. Chan Ho-lim encouraged them to make good use of Hong Kong's capital market to finance Italian companies and projects.
Source: Financial Services and the Treasury Bureau Facebook post