GBA at 5: how Hong Kong has become the investment and insurance hub of Greater Bay Area
- Greater Bay Area money flows have boosted Hong Kong’s wealth management assets nearly 30 per cent to US$3.9 trillion in the five years to the end of 2022
- From February 26, the Wealth Management Connect scheme will be expanded for bay area residents with higher investment quotas and fund choices
February 18 marks five years since Beijing unveiled its blueprint to turn the Greater Bay Area into a hi-tech powerhouse by 2035. The region of more than 86 million people covers Hong Kong, Macau and nine Guangdong cities.
In the third of a four-part series, Enoch Yiu looks at Hong Kong’s progress in becoming the de facto wealth management hub for the wealthy, and what needs to done to stay on top.
Hong Kong’s biggest family-owned bank is betting its growth prospects on the “growing affluence” of the Greater Bay Area, said Adrian Li Man-kiu, co-CEO of BEA. Of particular importance is the status of Hong Kong – home to the bank for more than a century – as the financial linchpin and global hub for the bay area, he said.
“The Hong Kong market offers a broad range of wealth management solutions to help GBA residents achieve their financial goals,” he said.
