Hong Kong hosts over 2,700 single-family offices, with a government initiative to reinforce its status as a wealth hub in Asia. According to a Deloitte survey for the government, these offices managed a minimum of USD10m each, with 885 overseeing at least USD100m. Aiming to recover from the pandemic and geopolitical tensions, Hong Kong managed USD3.9tr in assets by end of 2022 and is home to 12,500 ultra high-net-worth individuals. The city’s chief executive targets 200 large family offices by 2025, imposing employment and spending requirements for these entities. Compared to Singapore, Hong Kong has less stringent local investment and staffing mandates.