HKRSA & MPF – then, now and the future. A personal reflection from Jonathan Watkin
With the 30 year Anniversary this year of the formation of Hong Kong Retirement Schemes Association, it is a good time to reflect on the past achievements and the future. It is also just over 25 years since the Mandatory Provident Fund (MPF) commenced. When I first started out in superannuation, working for an employee benefits consultancy, Alexander Consulting Group (later part of AON), a Hong Kong Chinese student at Macquarie University in Australia where I was enrolled on
3 days ago
China Family Office Wealth Transfer Wave to Reach USD2.8tr
Family offices in China are shifting from rapid expansion towards higher-quality development as the country prepares for what industry executives describe as the largest intergenerational wealth transfer in its history. The China family office wealth transfer wave is expected to involve more than RMB20tr (USD2.8tr) over the next decade, according to a white paper released by WRISE Group and research firm Puyi Standard. WRISE said the China family office wealth transfer trend
3 days ago
China Asset Investment Appetite Rises Among Global Investors
Global investors are showing renewed interest in Chinese assets as rapid technological advances and lower valuations draw attention back to the world’s second-largest economy, according to JPMorgan research. The China asset investment survey found that 57% of investors were considering exposure to China, up from 51% a year earlier. Kwang Kam Shing, JPMorgan’s chairwoman for North Asia, said foreign investment allocations into Hong Kong and mainland China remain historically l
3 days ago
Hong Kong Gold Clearing Plan Moves Ahead of Singapore
Hong Kong plans to launch a new gold-clearing system by July, moving ahead of Singapore in the race to become Asia’s leading bullion trading hub. The Hong Kong gold clearing initiative is expected to improve liquidity and strengthen the city’s role in regional gold pricing, supported by large bullion flows linked to mainland China, the world’s largest gold consumer. Hong Kong is also expanding its bullion infrastructure. SF Holding plans to develop a vault near the airport, w
3 days ago
Singapore Finance AI Jobs Concerns Rise Among Professionals, ACCA Says
Finance professionals in Singapore are increasingly using artificial intelligence tools at work even as many remain concerned about the long-term impact on employment, according to the Association of Chartered Certified Accountants. The Singapore finance AI jobs survey found that 51% of respondents regularly use AI technologies, while 48% worry the technology could affect their careers. Despite those concerns, 81% said they remain confident in their ability to learn and apply
3 days ago
Hong Kong Wealth Hub Rise Over Switzerland Seen as “Milestone, Not Finish Line”
Hong Kong’s Financial Services Development Council said the city’s rise above Switzerland as the world’s leading booking centre for cross-border wealth represents an important achievement but not the endpoint of its ambitions as an international financial centre. The Hong Kong wealth hub assessment follows findings in Boston Consulting Group’s 2026 Global Wealth Report highlighting the shift. FSDC executive director Rocky Tung said the Hong Kong wealth hub remains well positi
6 days ago
Moonfare Family Office Demand Drives APAC Private Markets Growth
Family offices in Australia and Singapore are driving rapid regional expansion for Moonfare, with assets on the private markets platform increasing around 2.5 times during 2025, according to regional head Adam Banks. The Moonfare family office demand trend has helped make Asia Pacific the company’s fastest-growing region globally, while Australia has become its fastest-growing individual market worldwide. The Berlin-based platform gives accredited and institutional investors
6 days ago
Hong Kong Mainland Client Checks Tighten at Banks
Hong Kong banks are tightening scrutiny of mainland Chinese clients opening savings and investment accounts as Beijing intensifies efforts to curb illegal cross-border trading and capital outflows. The Hong Kong mainland client checks have expanded across several major lenders in the city, according to people familiar with the matter. Some large Chinese banks in Hong Kong have reportedly suspended the opening of investment and wealth-management accounts for mainland residents
6 days ago
Vietnam Foreign Exchange Procedures to Be Simplified From July
Vietnam’s central bank will simplify 11 administrative procedures covering foreign exchange management from July 25, 2026, under a new circular aimed at improving efficiency and decentralising approvals. The Vietnam foreign exchange procedures reforms cover foreign borrowing, overseas lending, international bond issuance, indirect investment and foreign currency accounts held abroad. Circular No. 17/2026/TT-NHNN amends and supplements five legal documents and requires the Sta
6 days ago
The Missing Layer in Family Office Investing (1)
ESG-AI Governance for Family Offices and Wealth Managers A weekly series published in partnership with AsiaFirst The Gap Nobody Is Pricing In by Alfons Futterer How an ungoverned AI and ESG blind spot is quietly eroding returns in private portfolios — and why most family offices have not yet noticed. Eighty-six percent of family offices are now using AI in their operations. Sixty-five percent plan to increase AI as a strategic priority in their portfolios. And yet, in a recen
7 days ago
Singapore Private Bank Onboarding Target Set at One Month
Singapore aims to reduce private bank account opening times for wealthy clients to within one month by the end of 2026 as authorities seek to strengthen the city-state’s position as a trusted global wealth management hub. The Singapore private bank onboarding initiative is being led by the Monetary Authority of Singapore together with the Private Banking Industry Group. MAS managing director Chia Der Jiun said onboarding currently takes around six weeks or longer for more com
May 28
HSBC Taiwan Private Banking Names Edward Chiu for Key Role
HSBC Private Bank has appointed Edward Chiu as Onshore Taiwan Market Head effective June 1, 2026, as the bank strengthens its onshore wealth management operations in Taiwan. The HSBC Taiwan private banking appointment comes as competition intensifies for affluent and ultra-high-net-worth clients across North Asia. Chiu has more than 20 years of experience in wealth management and affluent banking in Taiwan and has served as Head of Premier Elite at HSBC Taiwan since 2024. He
May 28
Taiwan Business Sentiment Rises as AI Demand Offsets Risks
Taiwan’s business sentiment improved across manufacturing, services and construction last month as resilient artificial intelligence demand helped offset geopolitical uncertainty linked to the Middle East, according to the Taiwan Institute of Economic Research. The Taiwan business sentiment indicators showed broad-based improvement across key sectors. TIER’s manufacturing climate gauge rose 0.93 points to 97.14, while the services index increased 0.54 points to 96.73. The con
May 28
Singapore Q1 GDP Beats Estimates as AI Exports Boost Growth
Singapore’s economy grew 6% year on year in the first quarter of 2026, beating an earlier official estimate of 4.6%, supported by wholesale trade, manufacturing and finance as artificial intelligence-related demand boosted exports. The Singapore Q1 GDP figures also showed the economy expanded 1% quarter on quarter on a seasonally adjusted basis, reversing an advance estimate of a 0.3% contraction. The Ministry of Trade and Industry maintained its 2026 growth forecast at betwe
May 27
Hong Kong Re-Domiciliation Regime Approves 36 Company Applications
Hong Kong has approved 36 company re-domiciliation applications since launching the regime nearly a year ago, according to the Financial Services and the Treasury Bureau. The Hong Kong re-domiciliation regime was introduced to attract overseas-incorporated companies seeking to relocate their legal domicile to the city while maintaining operational continuity. Authorities said another 21 applications are currently being processed by the Companies Registry. The approved compani
May 27
Asian Family Offices UK Investment Focus Grows at Singapore Forum
Asian family offices explored investment opportunities in Britain during the recent Coutts Family Office Forum in Singapore as the UK intensified efforts to attract capital from wealthy investors across Asia-Pacific. The Asian family offices UK discussions focused on cross-border investment opportunities, wealth management expertise and partnerships between Britain and Asia’s expanding private wealth sector. Martin Kent, His Majesty’s Trade Commissioner for Asia Pacific, said
May 27
HSBC Hong Kong Wealth Push Targets 7.5m Clients
HSBC is targeting growth in its Hong Kong customer base to 7.5 million, roughly matching the city’s population, as the bank accelerates expansion of its wealth management operations and seeks to attract more international investors. The HSBC Hong Kong wealth strategy follows the addition of nearly two million customers during the past two years, bringing total customers to seven million at the end of 2025. Hong Kong chief executive Maggie Ng said the city’s role as a wealth m
May 27
Hong Kong Luxury Wealth Centres Expand as Banks Chase Rich Clients
Hong Kong banks are opening more luxury wealth centres in premium commercial locations as competition intensifies for high-net-worth and family office clients amid lower interest rates and rising demand for fee-based advisory income. The Hong Kong luxury wealth centres expansion reflects a wider shift away from traditional branch banking towards exclusive advisory venues tailored for affluent customers. HSBC recently opened its fifth Hong Kong luxury wealth centres location a
May 26
Singapore Wealth Advisory Centre Opens at Ngee Ann City
Singapore-based financial advisory firm PFPFA has opened a new Singapore wealth advisory centre at Ngee Ann City as it expands services focused on wealth preservation, succession planning and legacy advisory for affluent families and high-net-worth individuals. The Singapore wealth advisory centre, branded as the PFP Signature Centre, is located in Orchard Road and will provide private consultations covering investment advisory, estate planning, insurance structuring and inte
May 26
APAC Cyber Attacks on Banks and Fintechs Surge, Akamai Says
Financial institutions across Asia Pacific accounted for 52% of global Layer 7 DDoS incidents targeting financial services in 2025, making the region the leading target for application-layer attacks for a fourth consecutive year, according to Akamai Technologies. The APAC cyber attacks finance report highlighted growing vulnerabilities as banks, fintech companies and payment providers expand digital banking and API-driven services. Within Asia Pacific, banks represented 44% o
May 26