Hong Kong Chief Executive John Lee Ka-chiu announced plans to transform Hong Kong into a major philanthropic hub. Speaking at the Hong Kong Jockey Club’s Philanthropy for Better Cities Forum via video, Lee highlighted that the city hosts over 10,000 tax-exempt charities and reported charitable donations totalling around HKD14b. He pointed out that Hong Kong houses approximately 2,700 single-family offices, more than half of which were established by individuals with wealth over USD50m. Lee emphasised the government’s commitment to providing platforms for family offices to integrate philanthropy within their wealth management, aiming to enhance social change, attract more charitable funds, and solidify Hong Kong’s role as a leader in philanthropy.
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