Exclusive | Hong Kong’s ‘moneymaking genes’ help it trump charmless Frankfurt, LA and Singapore, says tycoon Ronnie Chan

Name: SCMP
Telephone: +852-2680-8888

Hong Kong’s strategic location, its role in the Greater Bay Area, its government and its ‘moneymaking genes’ make it a natural choice for families and family offices looking to establish a presence in Asia-Pacific, Chan says

Investments that have flocked to Singapore can return to Hong Kong, tycoon tells the Post

Reading Time:3 minutes

Why you can trust SCMP

Cities such as Hong Kong, London, New York and Paris have charm, Chan says. Photo: Jonathan Wong

Peggy SitoandPearl Liu

Published: 10:00am, 3 Apr 2023Updated: 10:26am, 3 Apr 2023

While some international cities that are well-equipped with hotels and airports are “artificial” and “super boring”, Hong Kong is also “full of charm”, which makes it a favourable destination for wooing talent and wealth from across the world, said Ronnie Chan Chi-chung, chairman of Hang Lung Properties.

Hong Kong’s unique advantages, such as its strategic location, its role in the Greater Bay Area (GBA), its government and its “moneymaking genes” make it a natural choice for families and family offices looking to establish a presence in the Asia-Pacific region, Chan said in an interview with the Post.

“There are a lot of cities that are well equipped, with high-end hotels and mega airports, but such beauty is very artificial,” he said. These cities can attract people to come once or twice, but their society is “super boring”.

“They lack charm.”

‘Hong Kong has always been a business-led community, meaning it’s always about making money,’ Chan says. Photo: Jonathan Wong

Chan’s remarks come amid efforts by Hong Kong to reaffirm its status as an international finance centre and advertise itself as the family office hub in Asia, after the city’s government lifted all mandatory mask requirements and social distancing measures this year. Hong Kong’s status as a wealth and financial centre has been under pressure during the Covid-19 pandemic, with wealthy Chinese investors reportedly putting their money in Singapore.