Hong Kong’s First Five-Year Plan Targets Family Offices and Long-Term Capital

Hong Kong is formalising a multi-year pitch to the capital pools that increasingly sit at the centre of digital-asset and RWA flows — sovereign funds, family offices and fund vehicles — rather than chasing retail trading volume. Tax treatment for single-family offices and carried interest is the concrete lever here, since it shapes where managers and their principals are domiciled. Whether the plan translates into durable commitments, or remains a statement of intent, is the open question to watch as implementation details emerge.