Speech by CS at Opening Ceremony of Philanthropy for Better Cities Forum 2026 (English only) (with photos/video)
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Martin (Chairman of the Hong Kong Jockey Club, Mr Martin Liao), Winfried (Chief Executive Officer of the Hong Kong Jockey Club, Mr Winfried Engelbrecht-Bresges), distinguished guests, ladies and gentlemen,
Good morning. I am pleased to welcome you to the Philanthropy for Better Cities Forum, delighted to note that this is the Forum's 10th anniversary.
You're here over these next two days to get the latest intelligence and insights from a wide variety of high-profile local and international speakers. And all under the innovative theme of "Leaping for Impact."
This year's theme draws inspiration from the Olympic and Paralympic values. Philanthropy, like sport, required focus, discipline and resilience. It demands inclusion, a shared purpose, and the drive for excellence. And these values guide us toward greater collaboration and meaningful change.
Hong Kong has always been a society built on compassion and a deep sense of giving. We are home to more than 11 000 tax-exempt charities. Just last year alone, we recognised more than 400 new charitable organisations.
The Hong Kong SAR Government is fully committed to raising our city as a global centre for philanthropy.
Under the "one country, two systems" principle, and as a bridge between East and West, we are uniquely positioned to deploy global capital for the greater good.
Our status as a global business and philanthropic hub is underpinned by our simple, transparent and internationally recognised tax regime.
To encourage public generosity, donations made to approved charities in Hong Kong are tax-deductible.
Thanks to the generosity of our people and businesses, approved donations exceeded US$1.5 billion in the 2024-25 assessment year.
Hong Kong is not just a financial hub. We are a wealth management powerhouse. We are now home to more than 3 300 single family offices – a 25 per cent increase over the past two years. And more than half of them have second-generation members in leadership roles, reflecting that ultra-high-net-worth families trust Hong Kong for generational wealth transfer.
Projections show that over US$5.8 trillion in wealth will be handed over to the next generation in the Asia-Pacific region in the coming years. And they are choosing Hong Kong to do it.
To make that as easy as possible, the Government has created comprehensive measures in support of family offices.
Through Invest Hong Kong's dedicated team, we provide a seamless, one-stop service for family offices interested in setting up in Hong Kong.
And through initiatives such as our annual "Wealth for Good in Hong Kong" Summit, we are creating a home where global asset owners can meet, exchange ideas and align their financial goals with social purpose.
We are also among the world's largest cross-boundary wealth-management centres. Last year, the sector's total assets under management reached US$5.4 trillion, more than 12 times our GDP.
And more than half of these funds came from investors beyond Hong Kong and the Chinese Mainland.
Ladies and gentlemen, Hong Kong looks forward to working with you. With our enabling tax regime, dedicated family office strategy, and our unwavering commitment to doing good, we can make a difference for you and your philanthropic legacy.
This year's Forum is the perfect place to start. I invite you, over these next two days, to embrace the spirit of the theme, "Leaping for Impact". Let us work together to build a brighter, safer, and more sustainable future for us all – and for the generations to come.
I wish you all a rewarding conference and our many visitors an enjoyable stay here in Asia's world city. Thank you.
Ends/Monday, September 7, 2026
Issued at HKT 9:50
Issued at HKT 9:50
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