Foresight News reported, according to the Financial Times, that a proposal indicates Hong Kong plans to exempt private equity funds, hedge funds, and super-rich investment tools from taxation on profits derived from cryptocurrencies, private credit investments, and other assets, in an effort to become a top offshore financial center. "Taxation is one of the key considerations for asset management companies in deciding where to operate, and the government aims to create a favorable environment for them and is conducting a six-week consultation on the plan."