The controversy over CK Hutchison's plans to sell dozens of ports won't affect family offices' interest in investing in Hong Kong, financial services minister Christopher Hui said on Sunday.

Speaking on a TV programme, Hui said those attending the Wealth for Good in Hong Kong Summit last week did not raise concerns about the deal.

He said 160 family offices from around the world indicated they will or are planning to set up shop in Hong Kong, of which a quarter are from Europe and the United States.

"So as you can see, I think there has been absolutely no impact. We continue to be an ideal destination for attracting capital and especially for family offices and other institutions to establish themselves here."

Hui also said the government is planning to amend legislation to expand tax concessions for family office investments, covering loans, virtual assets and carbon credits.

He expressed confidence that the number of family offices in Hong Kong would increase from 2,700 to over 3,000 in the short term.

Sources said the US$23 billion port deal between CK Hutchison and a consortium led by American investment firm BlackRock, which includes strategic assets along the Panama Canal, won't be signed as expected this week.

Beijing officials in charge of SAR affairs have reposted a number of commentaries at the Ta Kung Pao newspaper, criticising the proposed sale.

In the latest piece reposted by the Hong Kong and Macau Affairs Office on Sunday, political and business leaders were quoted as saying that the impact of the proposed deal extends beyond commerce to national security.

The article said various sectors in Hong Kong support the move by the State Administration for Market Regulation to examine the deal, adding it is critical for safeguarding fair competition and national interests.

It also urged CK Hutchison to reconsider the deal, quoting a number of Hong Kong lawmakers as saying it's naive to view it as a business matter only, given the complex international environment.
_____________________________
Last updated: 2025-03-30 HKT 19:16