Hong Kong is best gateway to tap opportunities on Chinese mainland: HKSAR financial secretary

HONG KONG, March 25 (Xinhua) -- Hong Kong is the best gateway to tap the enormous opportunities on the Chinese mainland, the financial secretary of the Hong Kong Special Administrative Region (HKSAR) government said on Tuesday.

Addressing the Wealth for Good in Hong Kong Summit, Paul Chan highlighted the role of Hong Kong for global investors navigating a world of risks and uncertainty. He noted that families seeking to preserve their legacy are looking for not merely a place to park capital, but a place with institutional strengths, legal clarity and credible commitments.

"Hong Kong is not only a safe harbor. It is also a city of business opportunities, and a platform for growth, for connection and for the purposeful deployment of capital," Chan said.

Hong Kong's stock market performed strongly last year, with its asset and wealth management also thriving, Chan said, adding that the HKSAR government is opening up new frontiers, including gold and commodity trading, as well as fixed income and currency markets.

Also speaking at the summit, Michael Wong, deputy financial secretary of the HKSAR government, said that under "one country, two systems," Hong Kong provides an economic and business environment with policy predictability and institutional trust.

Hong Kong's common law legal system, open economy and simple tax regime, among others, all work together to provide a welcoming and dependable home for wealth that lasts through generations, Wong said.

The two-day summit has brought together over 400 family office decision-makers from Asia, Europe, the Americas, the Middle East, Oceania, and Africa.