Hong Kong Family Office Target Surpassed Ahead of Schedule

Hong Kong family office target has been surpassed ahead of schedule, with more than 200 family offices establishing or expanding operations in the city before the government’s end-2025 goal. The milestone coincides with Hong Kong’s total assets under management rising to HKD35tr (USD4.5tr) by end-2024, a 13% increase year on year, while net fund inflows surged more than 80% to HKD705bn. Chief Executive John Lee set the original target in his 2022 Policy Address. The growth has been supported by new initiatives such as enhanced tax concessions and the New Capital Investment Entrant Scheme, which are designed to attract ultra-wealthy families. Officials said the actual number of family offices is likely higher, as some firms launched independently of government channels.