Global financial leaders who gathered in Hong Kong this week largely sidestepped Beijing’s offshore trust tax crackdown, a lingering near-term hurdle for the city’s otherwise expanding wealth management industry.
Beijing’s move earlier this year to step up scrutiny of wealthy families’ overseas assets was barely discussed openly at a series of financial industry events, including the Global Financial Leaders’ Investment Summit and the PWMA Wealth Management Industry Summit 2026, even as it remains a thorny issue for cross-border wealth management.
Industry heavyweights instead focused on the city’s appeal as an alternative safe haven amid global market volatility and its growing strength as a cross-border wealth hub.