'Seeing is believing': Hong Kong launches 'Financial Mega Event Week' in major push to attract more foreign investors, business travellers

His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum of Dubai, United Arab Emirates - along with DreamWorks Animation co-founder Jeffrey Katzenberg, Blue Pool Capital chief executive Oliver Weisberg and NBA legend Dwyane Wade - are among the luminaries expected to take part in Hong Kong's coming "Financial Mega Event Week".

The city will host three major events to be held from March 25 to 27: the second edition of the Wealth for Good in Hong Kong Summit, the Global Investors' Symposium organised by the Milken Institute and the inaugural One Earth Summit.

"Through these events, our visitors can experience Hong Kong and what we have; Hong Kong is a pluralistic city and metropolis for tranquillity and safe living," Financial Secretary Paul Chan Mo-po said at the events' launch ceremony and press conference on Thursday.

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Apart from showing Hong Kong's charm and dynamism to financial industry heavyweights, Chan said the events are also expected to bring high-spending business travellers to the city, giving a boost to the local retail and catering sectors.

From left right: Poman Lo, founder of the Institute of Sustainability and Technology; Alpha Lau, Director-General of Investment Promotion at InvestHK; Financial Secretary Paul Chan Mo-po; Christopher Hui Ching-yu, the Secretary for Financial Services and the Treasury; Charles Ng, Associate Director-General of Investment Promotion at InvestHK; and Robin Hu, Asia Chair of the Milken Institute lead the launch ceremony of the city's "Financial Mega Event Week" at the Central Government Offices in Tamar on Thursday. Photo: Edmond So alt=From left right: Poman Lo, founder of the Institute of Sustainability and Technology; Alpha Lau, Director-General of Investment Promotion at InvestHK; Financial Secretary Paul Chan Mo-po; Christopher Hui Ching-yu, the Secretary for Financial Services and the Treasury; Charles Ng, Associate Director-General of Investment Promotion at InvestHK; and Robin Hu, Asia Chair of the Milken Institute lead the launch ceremony of the city's "Financial Mega Event Week" at the Central Government Offices in Tamar on Thursday. Photo: Edmond So>

"Visitors last year said that Hong Kong is different from what overseas media painted and they do feel it is worth revisiting Hong Kong," Chan said. "Seeing is believing."

The mega event week reflects the Hong Kong government's heightened efforts to buttress the city's status as an international financial hub amid increased competition from Singapore and the geopolitical tensions between Washington and Beijing.

Some 100 family offices had expressed interest in attending the Wealth for Good Summit, according to Christopher Hui Ching-yu, the Secretary for Financial Services and the Treasury. The family offices had also voiced an interest in expanding their presence in Hong Kong, he added.

The summit is part of the Hong Kong government's clarion call for the world's tycoons to set up their family offices in the city.

Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, speaks at the launch ceremony of the "Financial Mega Event Week". Photo: Edmond So alt=Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, speaks at the launch ceremony of the "Financial Mega Event Week". Photo: Edmond So>

"We hope to bring top talent to discuss issues of concerns for family offices and highlight Hong Kong's unique advantages, and drive the continued growth of the market and wealth," Hui said.

Weisberg from Blue Pool Capital, the family office of Alibaba Group Holding chairman Joe Tsai; Katzenberg of DreamWorks Animation; and Marc Lasry, the chief executive of Avenue Capital Group are among the speakers set to attend the Wealth for Good Summit. Alibaba owns the South China Morning Post.

Tony Tan Caktiong, founder and chairman of Jollibee Foods Corp; Stella Li Ke, chief executive of BYD Americas; and Brian Gu Hong-di, vice-chairman and president of Xpeng Motors are also among those in the summit's attendees list. More speakers and guests are expected to be announced closer to the event.

During the latest budget announcement, Chan said Hong Kong will improve tax breaks and step up its charm offensive to attract more foreign funds and family offices.

Tony Tan Caktiong, founder and chairman of Jollibee Foods Corp in the Philippines, poses beside fast-food chain Jollibee's mascot. Photo: Jollibee alt=Tony Tan Caktiong, founder and chairman of Jollibee Foods Corp in the Philippines, poses beside fast-food chain Jollibee's mascot. Photo: Jollibee>

The summit will also address various issues that concern global family offices, including the impact of investing in technology to create positive value for the future of society, the art and luxury goods market, and philanthropy and wealth inheritance.

The One Earth Summit, which is co-organised by the Institute of Sustainability and Technology, will touch on topics that include net-zero emissions, food waste and energy transformation, and climate change.

"The event will fully showcase Hong Kong's important role in leading green and sustainable financial development in the region," Hui said.

It is expected to attract 500 government representatives, youth leaders and academics and entrepreneurs.

NBA legend and former Miami Heat guard Dwyane Wade meets and greets fans at the Li Ning store in Sha Tin on February 26, 2024. Photo: Edmond So alt=NBA legend and former Miami Heat guard Dwyane Wade meets and greets fans at the Li Ning store in Sha Tin on February 26, 2024. Photo: Edmond So>

The third mega event is the Global Investors' Symposium, co-organised by the Milken Institute, a US-based non-profit think tank. It is the first time Hong Kong will host the conference, which will run under the theme "Thriving together bridging global markets".

Some 400 corporate executives, asset managers, family office principals and industry leaders are expected to attend and discuss a wide range of pressing global challenges.

The events will coincide with a string of art and cultural events, including ComplexCon on March 24, Art Basel Hong Kong on March 28 and the Hong Kong Rugby Sevens on April 5.

"We will let Hong Kong shine brilliantly and consolidate the city's position as an international financial hub by successfully attracting international enterprises, talent, and capital," Hui said.

This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved.

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