The Hong Kong Financial Secretary, Paul MP Chan, has delivered details of the Hong Kong Budget, themed Driving High-quality, Inclusive Growth with Innovation and Finance.
According to Chan, the Office for Attracting Strategic Enterprises (OASES) has attracted over 100 strategic enterprises to establish themselves in Hong Kong. "Among them, 51 have been listed, and 76 set up their global or regional headquarters in Hong Kong, bringing in about HK$60 B of investment and creating around 22,000 jobs," Chan said.
"Invest Hong Kong assisted 560 enterprises in establishing or expanding their operations in Hong Kong last year, which is expected to generate about HK$70 B of investment and create over 10,000 jobs.
"The number of companies in Hong Kong with Mainland or overseas parent companies and the number of startups in Hong Kong both rose by 11%, hitting new highs. As regards talent attraction, the Top Talent Pass Scheme has drawn over 100,000 global elites to Hong Kong. We will continue to proactively attract investments and talents, injecting fresh impetus into Hong Kong’s economy."
Northern Metropolis
Chan also shared an update on the Northern Metropolis (NM) project. "Being a new engine for long-term development, the NM will inject fresh economic impetus into Hong Kong and support our new 'South-North dual engine (finance-I&T)' industry pattern," he said.
"We are accelerating its development through various measures, including adopting a large-scale land-disposal approach in land allocation and expediting the bringing in of enterprises and industries, as well as establishing two dedicated companies for San Tin Technopole and Hung Shui Kiu Industry Park respectively. We plan to introduce a dedicated legislation for the NM in the middle of this year."
Chan further disclosed that the government is exploring ways to further encourage developers which own land in the NM to collaborate with technology or advanced manufacturing enterprises in submitting joint development proposals to the government.
"We expect that, through tripartite co-operation, relevant land and corporate resources will be channelled towards the target industries for priority development in Hong Kong. In doing so, the business sector will have greater participation in the I&T transformation of our economy, thereby expediting the NM development through concerted efforts," he said.
Albert Wong, PwC Hong Kong Public Sector Consulting Partner said: “We are pleased to see the government’s ongoing commitment to developing the Northern Metropolis and its flexible approach to the development model such as a tripartite co-operation between developers owning land in the NM, technology or advanced manufacturing enterprises and the government.
"In setting land premiums or rental values, the government should weigh short-term returns against long-term benefits. These include economic growth, innovation, technology capacity building, and local talent development. This balanced perspective should guide evaluations, contract negotiations and subsequent performance monitoring.
"In addition, the government might consider flexible risk-sharing arrangements with companies establishing offices in the Northern Metropolis. For example, offering reduced rental fees during the initial years in exchange for revenue sharing could encourage investment while managing risks. Such measures would support sustainable growth and strengthen Hong Kong’s innovation ecosystem in the region.”
Corporate treasury centres (CTCs_
"The Budget’s measures to strengthen corporate treasury centres and international trading functions are strategically important. As a ‘springboard’ for Chinese Mainland enterprises expanding overseas and for multinational corporations entering the Asian market, Hong Kong’s role continues to grow. We welcome the government’s enhancements to the tax regime for CTCs and the proposed reforms supporting Hong Kong as a regional intellectual property (IP) trading centre, which will attract more companies to establish operations in Hong Kong.
"The introduction of preferential policy packages to promote industries and investment, as well as the establishment of an Advisory Committee on Tax Policy will also support steady and sustainable economic development," said Stanley Ho, Tax Partner, KPMG China.
Family offices
Agnes Wong, PwC China South Private Clients and Family Office Tax Leader said: “We applaud the government’s ongoing efforts to enhance Hong Kong’s family office ecosystem. In particular the proposed expansion of the qualifying investment list under the family office tax concession to cover precious metals and specified commodities is a measure which we have consistently advocated for. To further attract global talent and investors, in addition to regularly reviewing and enhancing talent schemes, the Government should accelerate the granting of Hong Kong residency status to principals of eligible family offices and their families."
Chi Man Kwan, Group CEO of Raffles Family Office said: "We are encouraged by the measures announced in the HKSAR government’s 2026–27 Budget and firmly believe that the tax regime enhancement for family offices will further consolidate Hong Kong’s position as a leading global wealth management hub. We are pleased to see the government’s clear direction and commitment to advancing the family office sector.
"The latest study released by the Financial Services and the Treasury Bureau and Invest Hong Kong demonstrates that these efforts are bearing fruit, with Hong Kong recording significant and rapid growth in the number of single-family offices. In order to cement Hong Kong's position as a leading hub for family offices, it is essential for both single-family offices and multi-family offices to thrive in tandem. We look forward to the relevant policies comprehensively covering both single-family offices and multi-family offices, thereby fostering the sustainable and healthy development of Hong Kong’s overall family office ecosystem."
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*I&T stands for innovation and technology.
