Hong Kong attracts over 3,380 single-family offices, up 25 percent from two years ago: John Lee

Chief Executive John Lee Ka-chiu announced on Monday that Hong Kong now hosts more than 3,380 single-family offices. This represents a significant increase of 25 percent compared to two years ago.

Speaking at a principal dinner hosted by the government, Lee noted that a majority of these family offices are managed by second-generation or subsequent family members. He interpreted this as a strong indication of the trust that ultra-high-net-worth families place in Hong Kong as a stable and reliable location for the transfer of wealth across generations.

The dinner, attended by approximately 130 family office decision-makers from around the world, served as a prelude to the fourth annual Wealth for Good in Hong Kong Summit. This year's summit, themed "Building Lasting Legacies," began on March 24th.

A highlight of the evening was a spectacular "human-robot lion dance" performance. Traditional lion dancers shared the stage with agile robot dogs, creating a dynamic and engaging spectacle. This performance symbolized Hong Kong's commitment to both preserving its cultural heritage and embracing technological advancements, mirroring the summit's focus on emerging fields like AI and robotics.