21 Mar Chanel, Chopard and Zegna to join Alibaba’s Joe Tsai and Xpeng’s Brian Gu for Hong Kong’s Wealth for Good summit
Posted at 06:31h
in
Asia
by admin
David Wertheimer of the Chanel family, Caroline Scheufele, whose family owns Swiss luxury watchmaker and jeweller Chopard, and Angelo Zegna, whose family owns the Italian luxury brand Zegna, will be among the headline speakers at the Wealth for Good in Hong Kong Summit next week.
Organised by the Financial Services and the Treasury Bureau and InvestHK, the summit will centre around four key topics: luxury and legacy, green technology, philanthropy and wealth legacy. The speakers will discuss ways of using Hong Kong’s advantages to forge ahead amid external economic challenges.
Oliver Weisberg, the CEO of Blue Pool Capital, the family office of
Alibaba Group Holding chairman
Joe Tsai, Stella Li Ke, CEO of
BYD Americas, and Brian Gu Hong-di, vice-chairman and president of
Xpeng Motors, are also among those speaking at the summit, according to a government statement published on Thursday. Alibaba owns the South China Morning Post.
“I eagerly look forward to exchanging views with the speakers and family office decision makers from around the world at the event,” said Christopher Hui, the Secretary for Financial Services and the Treasury. “Through the summit, we also aim to continue promoting Hong Kong as a prime destination for global family offices and asset owners to set up and expand their businesses.”
The city wants more affluent families to set up shop and bolster its status as Asia’s wealth hub. Last month, Financial Secretary Paul Chan Mo-po said during his budget announcement that the government will increase the types of transactions that qualify for
tax concessions and will be more flexible when it comes to handling incidental transactions, to attract more family offices.
Hong Kong had
2,703 single family offices at the end of 2023, and around a third of these manage more than US$100 million in assets, according to Deloitte.
Chief Executive John Lee Ka-chiu said the city aims to get at least 200 more of the
world’s top family offices to set up or expand their operations in Hong Kong by 2025.
Sheikh Ali Al Maktoum, the nephew of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, is among the latest high-profile international investors to respond to the city’s campaign to attract foreign capital. His firm will manage up to US$500 million in assets and will focus on opportunities in Asia, in sectors including artificial intelligence, construction, electric vehicles, tourism and fintech.
The Wealth for Good summit is part of a push to stage a post-Covid-19 rebound and bolster Hong Kong’s position as Asia’s financial hub. The Global Investors’ Symposium, organised by the Milken Institute, and the inaugural One Earth Summit will also take place during the city’s
‘Financial Mega Event Week’ between March 25 and 27.
Source link
