The San Clemente Journal is a quarterly Magazine, published by Community Publications Network since 1995 that is your go-to resource to connect with the people, places, and things that matter most in and around San Clemente, California.

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Hong Kong rises to world No.1 cross-boundary wealth hub

HONG KONG SAR -  Media OutReach Newswire – 28 May 2026 – Hong Kong has overtaken Switzerland as the world's top cross-boundary wealth management centre, according to the latest Global Wealth Report 2026 published by the Boston Consulting Group (May 27). 
             
                 Hong Kong has emerged as the world's largest cross-boundary wealth management centre          
       
     
 Hong Kong's cross-boundary wealth rose 10.7% in 2025 to US$2.9 trillion, driven by Chinese Mainland flows and a vigorous stock market that delivered significant IPO (initial public offering) activity and strong gains in benchmark-heavy internet platforms, according to the report. It also projected that, from 2025 to 2030 the cross-boundary wealth managed by Hong Kong will grow by 9% on average annually and maintain first place globally, fully affirming Hong Kong's position as a world-leading cross-boundary wealth management centre. 
  Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region Government (HKSARG), highlighted that China's National 15th Five-Year Plan clearly supports Hong Kong in strengthening its functions as an international asset and wealth management centre, which is also a key component of Hong Kong's 'Finance +' development strategy. 
  "Over the past few years, the Government has worked closely with the financial sector to continuously improve the financial infrastructure and ecosystem, expand the range of investment products and risk management tools, and deepen the connectivity with capital markets around the world. 
  "Leveraging the advantages of 'one country, two systems', complemented by free, open, transparent, and predictable economic policies as well as a stable and secure investment environment, and cross-market connectivity, Hong Kong is attracting more and more ultra-high-net-worth individuals and family offices to establish a presence and invest in the city," Mr Chan said. 
       
 Christopher Hui, Secretary for Financial Services and the Treasury of the HKSARG, noted that the Government had issued the Policy Statement on Developing Family Office Businesses in Hong Kong in March 2023 and has since implemented various measures to encourage family offices to operate in Hong Kong. Such initiatives, he said, include providing profits tax concession to family-owned investment holding vehicles managed by eligible single family offices and introducing the New Capital Investment Entrant Scheme. 
  "The Government will introduce legislative proposals into the Legislative Council next month (June 2026) to further enhance the preferential tax regimes for funds, single family offices and carried interest, so as to further enhance the competitiveness of the tax regimes, and attract more funds and family offices to set up and operate in Hong Kong," Mr Hui said. 
  According to a study commissioned by Invest Hong Kong and published in February 2026, there were over 3,380 single family offices operating in Hong Kong as of end-2025, representing an increase of more than 25%, over the past two years. 
  
   
   
  
  
  
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