Middle East conflict could divert new capital to Hong Kong: treasury chief

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Hong Kong's treasury minister, Christopher Hui Ching-yu, stated that the Middle East conflict could lead to an influx of capital into Hong Kong. Hui cited the city's stability and regulatory certainty as attractive factors for investors seeking alternatives due to geopolitical instability. He noted increased inquiries from global investors regarding relocating wealth management businesses and family offices to Hong Kong since the recent escalation of conflict in late February. The government plans to enhance efforts to attract family offices and establish Hong Kong as a commodity trading hub. Hui also pledged to maintain smooth market operations amidst potential energy price shocks stemming from the conflict's impact on oil supply routes.
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AI-ExtractedOil prices across the world have soared as the war prompted Tehran to effectively close the Strait of Hormuz.
Hong Kong remains the safest, most stable and ideal asset management platform and hub.
The government would step up efforts to attract family offices and become a commodity trading hub.
Hong Kong's financial and legal sectors have received more inquiries from global investors.
The conflict in the Middle East could divert new capital to Hong Kong.
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