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FS visits biomedical firm in UK

Financial Secretary Paul Chan yesterday visited a biopharmaceutical company and the Royal College of Art, and attended a lunch hosted by the China-Britain Business Council, as part of his ongoing trip to London.   Mr Chan visited AstraZeneca and met the company’s senior management to learn about its drug research and development activities, as well as its latest expansion plans.   AstraZeneca indicated that following in-depth talks with Hong Kong’s Office for Attracting Strategic Enterprises, it plans to develop a research and development centre in Hong Kong and will engage in further discussion with relevant government departments on the matter.   The Financial Secretary then attended a roundtable luncheon held by the China-Britain Business Council, and met representatives of British enterprises that do business, or plan to do business, either in the Mainland or Hong Kong.   Mr Chan later visited the Royal College of Art, which collaborated with the Hong Kong Polytechnic Unive

Wealth summit to be held

The Wealth for Good in Hong Kong Summit (WGHK) will take place on March 24 at the Hong Kong Palace Museum, the Government announced today.   Organised by the Financial Services & the Treasury Bureau and Invest Hong Kong, the summit is an international top-level exclusive event for global family offices and asset owners.   It will cover four key themes: wealth for tech, wealth for art, wealth for green and wealth for philanthropy.   Under wealth for tech, Hong Kong’s financing capability can empower the next generation of technological innovations and bring investment opportunities for global family offices.   Wealth for art and wealth for green demonstrate Hong Kong’s unique positioning as an East-meets-West centre for international cultural exchange and its commitment to driving global transition towards green and sustainable development.   While wealth for philanthropy sees Hong Kong play the role of a philanthropy centre for global family offices to deploy wealth for good causes.   Chief Executive John Lee said: “The WGHK showcases Hong Kong’s unique advantages as an international asset and wealth management hub to global family offices and asset owners. The summit will introduce to them the opportunities offered by Hong Kong for wealth allocation, fostering the positive and long-term development of family office businesses.   “Through the WGHK, the Government will build stronger connections with decision makers of global family offices and assist them in exploring opportunities and implementing their development plans in Hong Kong, thereby encouraging more family offices to establish a presence.”   While Financial Secretary Paul Chan noted: “The WGHK will be a global premier event for family offices, showcasing investment and a wide range of opportunities in areas like arts and culture, green development and philanthropy that Hong Kong can bring to family offices.”   It will also whip up the demand for asset management and other related professional services, creating more business opportunities for Hong Kong, he added.   Secretary for Financial Services & the Treasury Christopher Hui supplemented that at the Hong Kong Palace Museum, guests will be able to appreciate a unique ambience of an East-meets-West centre for international cultural exchange, which coincides with Hong Kong’s role as a bridge connecting the Mainland and global capital markets.   As outlined by the Chief Executive in his Policy Address, the target is to attract at least 200 family offices to establish or expand their operations in Hong Kong by end-2025. In the 2023-24 Budget, the Financial Secretary then announced that the WGHK, as a key project, would be held to attract more global family offices to Hong Kong.

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