Hong Kong’s wealth management thrives despite political uncertainty, geopolitical tension
The Capital Investment Entrant Scheme, launched in March, has brought in more than HK$20 billion from 670 applications, Paul Chan says
Investors interested in Hong Kong’s wealth management products are increasingly concerned about the city’s political future, according to a survey by the Private Wealth Management Association and KPMG China on Friday.
Meanwhile, the Capital Investment Entrant Scheme, launched in March this year, has been quite successful, Financial Secretary Paul Chan Mo-po, said at a summit organised by the Private Wealth Management Association in Hong Kong on Friday, where the survey was released.
The programme, better known as the investment-migration scheme, has received about 670 applications, bringing in more than HK$20 billion (US$2.5 billion) so far, he said.
The percentage of clients concerned about Hong Kong’s political future has grown from 21 per cent in 2023 to 28 per cent in 2024, according to private wealth management firms operating in the city.
Geopolitical tensions, including US-China frictions and an unprecedented number of elections globally, were contributing to a general sense of political uncertainty, the survey said.
China’s economy was a major concern, ranking second after central banks’ actions on interest rates that have an impact on Hong Kong’s private wealth management sector, according to the survey. China’s economy featured sixth on the list of concerns last year.
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