{
  "id": 6096436,
  "title": "'Govt focused on making HK a global philanthropic hub'",
  "url": "https://urgent.news/2026/09/07/govt-focused-on-making-hk-a-global-philanthropic-hub-6096436",
  "topic": "world",
  "section": "World",
  "published": "2026-09-07T03:34:48.000Z",
  "source": {
    "name": "RTHK News",
    "slug": "rthk-news",
    "url": "https://news.rthk.hk/rthk/en/component/k2/1869088-20260907.htm"
  },
  "original_language": "en",
  "account": "Chief Secretary Eric Chan affirmed Hong Kong's commitment to becoming a leading philanthropic hub on a global scale. Speaking at the Philanthropy for Better Cities Forum, Chan highlighted the recognition of over 400 new charitable organizations last year, bringing Hong Kong's total to more than 11,000 tax-exempt charities. He emphasized that the city's approved donations surpassed US$1.5 billion in the 2024/25 assessment year.\n\nChan attributed Hong Kong's appeal to its straightforward and transparent tax regime, which he believes forms the bedrock for the city's potential as a global business and philanthropic center. He pointed out that Hong Kong is not just a financial hub, but also a wealth management powerhouse. The city currently hosts more than 3,300 single-family offices, a 25% increase over the past two years. Notably, more than half of these offices have second-generation members in leadership roles, indicating a trust in Hong Kong for the transfer of generational wealth.\n\nChan further noted that projections suggest more than US$5.8 trillion in wealth will be transferred to the next generation in the Asia-Pacific region in the coming years. Given this trend, Hong Kong is well-positioned to capitalize on this opportunity. The city is among the world's largest cross-border wealth management centers, with total assets under management reaching US$5.4 trillion last year. Over half of these funds were contributed by overseas investors.\n\nThe two-day event, themed \"Leaping for Impact,\" marked its 10th anniversary, reflecting Hong Kong's growing significance in the philanthropic world.",
  "summary": "The government is fully dedicated to shaping Hong Kong as global hub for philanthropy, according to Chief Secretary Eric Chan. In delivering his opening speech at the Philanthropy for Better Cities Forum on Monday, he said the SAR recognised more than 400 new charitable organisations last year, and Hong Kong had more than 11,000 tax-exempt charities so far. The amount of approved donations…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "RTHK English",
        "title": "'Govt focused on making HK a global philanthropic hub'",
        "url": "https://urgent.news/2026/09/07/govt-focused-on-making-hk-a-global-philanthropic-hub",
        "published": "2026-09-07T03:34:48.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}