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Wealth for Good in Hong Kong Summit – Over 100 Family Office Leaders Convene

Wealth for Good in Hong Kong Summit – Over 100 Family Office Leaders Convene

Over 100 global family office leaders and their professional teams gathered at the Wealth for Good Summit in Hong Kong (“WGHK”) summit to discuss sustainable wealth creation and management. Held at the Palace Museum, the WGHK commenced on Sunday and continues into the week with participants from BYD, Xpeng, Sun Hung Kai Properties, JP Morgan, Sequoia China, Xiaomi Foundation, Bill & Melinda Gates Foundation, Sagard, Pacific Century Group, UBS Hong Kong and many others.

The summit will showcase how global investors can make good use of Hong Kong’s strategic location and unique advantages to discover new opportunities.

Wealth for Good in Hong Kong, carries dual meaning within the phrase “For Good”. The first meaning highlights the mission to meet the long-term needs of family offices to deploy wealth with an enduring strategy, which captures macro investment opportunities, as well as prioritises family wealth preservation, accumulation and inheritance needs as they bear in mind intergenerational commitments. The second meaning echoes with the emerging new generation of family decision makers as they pursue impact investments for good causes, which go beyond profits and focus on the collective good.

The summit kicked off as four discussion panels focused on ways to use wealth in Philanthropy, Promote the Arts, Invest in Technology and Support ESG.

During the Wealth for Green panel, Hong Kong Green Finance Association’s chairman Ma Jun explained that the government could help facilitate the development of the ecosystem by launching green technology incubators and accelerators, as well as easing transactions between green technology and private sector funding.

The combination of Hong Kong’s conducive business environment, top universities, top talents and connectivity to the Greater Bay Area (“GBA”) was emphasized as a winning ingredient that should propel the city’s achievements in green technology and financing.

The summit continues on Wednesday with panel discussions on Luxury and Legacy, Green Technology, Philanthropy and Wealth Legacy, and a session on family office development titled “Dream to Dynasty: Wealth Creation for Generations.”

Regardless of the area of wealth creation, whether green technology or art, there will be obvious knock-on effects that stimulate economic activities in related business sectors in both Hong Kong and the GBA, and because of the high levels of investments involved, these knock-on effects will be significant for the GBA economy.