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JPMorgan executive says Hong Kong will stay a key wealth hub

She said Beijing’s cross-border investment curbs and a tax change targeting overseas insurance gains may add short-term uncertainty, but Hong Kong’s wealth management role should remain intact.

Reported · Written up by our desk · Asia

Beijing’s recent curbs on cross-border investment and a tax shift aimed at overseas insurance gains could create near-term uncertainty for regional wealth flows, but they are unlikely to derail Hong Kong’s long-term position as a wealth management hub, according to a senior JPMorgan Chase executive.

In an interview with the South China Morning Post, Kwang Kam-shing, Hong Kong CEO and chairwoman of North Asia at JPMorgan, said it was too early to judge the full impact of the policy shift, but she does not expect it to change the long-run trajectory.

Kwang pointed to continued wealth creation across Asia and ongoing cross-border activity as supportive factors. She added that Hong Kong can still serve high-net-worth customers seeking to manage wealth and invest globally.

She also said mainland and wider regional wealthy clients remain focused on investment diversification, succession planning, and philanthropic arrangements, needs that align with Hong Kong’s active capital markets and established financial infrastructure.

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