$ETH The government’s initiative follows intense competition with Singapore, Luxembourg, and Switzerland to attract billionaires and asset managers.
Analysts highlighted Hong Kong’s progress in wealth management and its ambitions as a financial and crypto hub, suggesting the city could rival Switzerland’s long-standing dominance.
They pointed out that family offices in Hong Kong allocate up to 20% of their portfolios to digital assets, signaling the growing significance of crypto in investment strategies.
Hong Kong has promoted its “open-ended fund company” structure, with over 450 such funds launched as of O
