Mainland Chinese investors to drive Hong Kong wealth boom despite new tax rules: report
Hong Kong banks expect the contribution of mainland Chinese investors to the city’s wealth management business to continue to grow through 2030, presenting opportunities despite Beijing’s tightened cross-border tax rules.
Mainland China’s share of local assets under management was projected to reach 68 per cent from 59 per cent within five years, according to a report released by the Hong Kong Association of Banks (HKAB) and Deloitte China on Friday.
The report surveyed 147 member banks in the...
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