Hong Kong dedicated to developing family office businesses for philanthropy: John Lee

Hong Kong is committed to developing family office businesses to attract philanthropic investment and boost the city’s status as a global charity hub, Chief Executive John Lee Ka-chiu has said.

The city leader said on Monday his administration was determined to develop Hong Kong into a global centre for philanthropy in which family offices could integrate philanthropy into their wealth management strategies to drive social change.

He added that the city could provide philanthropists with wealth management tools and channel their resources into initiatives.

“We are determined to realise Hong Kong as a go-to destination for global family offices passionate about making a difference,” Lee said as he gave a video opening speech at the Hong Kong Jockey Club’s Philanthropy for Better Cities Forum.

“[We] expect our family office businesses to grow, attracting even more philanthropic investment and capital to Hong Kong. That will certainly boost our status as a global philanthropic centre.”