Editorial | Family office summit in Hong Kong shows road to wealth

Navigating the sea of global business can be challenging, even more so amid the rapidly changing economic environment and intensifying geopolitical tensions. Hong Kong has an edge in this respect. Situated at the gateway of the world’s second-largest economy, with well-established institutional strengths and an internationalised outlook, the city has much experience and insights to offer.

For the second year, the South China Morning Post engaged leading figures across different fields for meaningful and in-depth dialogue on a wealth of issues facing businesspeople and investors. Among those who took part in the 2024 Family Business Summit were more than 100 of the wealthiest business owners from around the world, former government officials and advisers and outstanding achievers in sports and other sectors.

Organised by the Post and Blue Pool Capital, with JPMorgan as the presenting partner, the conference was more than a forum built on the city’s ambitions to become the wealth management and family office hub in Asia-Pacific. The by-invitation-only event established a comfortable and relaxed environment where former and current government officials, advisers from the United States, Europe, the Middle East, Southeast Asia and the mainland could candidly discuss many topics from cross-strait relations and the South China Sea to artificial intelligence and new engines for economic growth.

The audience comprised principal members of family-owned businesses, which play outsize roles in the corporate world. In Hong Kong for instance, family businesses account for up to 68 per cent of listed companies and 60 per cent of the city’s gross domestic product.

The event not only enabled attendees to grasp the challenges arising from the new regional and global order, but also opportunities presented by economic and social investments drives in both Hong Kong and on the mainland. The success of the event owed much to the city’s unique role as a superconnector that brought together influential speakers to air their views and concerns on topical issues in an open manner. The participants were especially impressed by the city’s resilience and determination to overcome hardships. The business world stands to benefit from more of such exchanges.