Emerging Trends in Asian Philanthropy and Impact Investment: Opportunities and Challenges

HONG KONG SAR - Media OutReach Newswire - 3 May 2024 - Hong Kong is renowned for its rich history of philanthropy and caring culture.

It is widely recognized as one of the most vibrant and promising cities in the field of philanthropy and charity services. The HKSAR government actively leverages Hong Kong's unique advantages in philanthropy, asset management, and its role as a bridge between China and the world to promote Hong Kong as a regional philanthropic hub. The goal is to cultivate talent, attract philanthropic capital, and facilitate cross-sector collaboration through a collective platform.

The Hong Kong Council of Social Service (HKCSS) and the Hong Kong Financial Services Development Council (FSDC) jointly organized the policy dialogue and panel discussion on "Emerging Trends in Asian Philanthropy and Impact Investment: Opportunities and Challenges" at the "S+ Summit and Expo". Stakeholders engaged in discussions on the vision in positioning Hong Kong as a regional philanthropic hub, cultivating thought leadership, integrating innovation and technology in building a collaborative ecosystem for sustained impact.

Speakers at the event included Prof. Roger King, Board Member, The Hong Kong Academy for Wealth Legacy; Mr. Hong-bo Tan, Deputy CEO, China Foundation Forum; Ms. Donna Tang, Executive Manager, Charities (Sports & Institute of Philanthropy), The Hong Kong Jockey Club; Ir. Prof. Alan Lam, CEO, Gravity Capital Partners Company Limited; and Mr. Patrick Brothers, CEO, HolonIQ. Their insightful perspectives provided valuable experiences and insights for the future development and positioning of Hong Kong in the philanthropy and public welfare sector.

Mr. Bernard Chan, Chairperson of HKCSS, stated, "The HKSAR government has proposed specific policy recommendations to promote Hong Kong as a regional philanthropic hub, such as providing tax reduction, transparent and effective donor-beneficiary matching, as well as increasing exchanges in the philanthropic sector. It is expected that there will be more and closer collaboration opportunities between the financial services industry and the social welfare sector. The 'S+ Summit and Expo' serves as a cross-sector collaborative platform, showcasing successful cases for reference and promoting knowledge and information sharing. With over 510 agency members, more than 4,000 caring companies from the business sector, 700 social enterprises, as well as close collaborations with the government, foundations, and professional sectors, HKCSS is actively driving the development of philanthropy in Hong Kong and the region."

Ms. Angel Chia, Executive Director, Hong Kong Academy for Wealth Legacy (HKAWL), stated, "Hong Kong, as an international financial centre and one of Asia's main asset and wealth management hubs, has a well-established financial system and a sound regulatory framework. Coupled with the government's active promotion of Hong Kong as a global family office hub and the implementation of measures such as tax concessions for family offices, Hong Kong has unique advantages to become a global philanthropic hub. We hope to fully leverage the synergistic effect through cooperation between financial services and the social welfare sector and contribute to social welfare through projects in impact investing and social responsibility."
Hashtag: #Philanthropy #HKCSS #FSDC #CoCreation #charity


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The Hong Kong Council of Social Service

The Hong Kong Council of Social Service (HKCSS) is a statutory body established in 1947. Together with our Agency Members, we uphold social justice and equality in our mission to advance the well-being of the Hong Kong community. The HKCSS is committed to building an impact-oriented, collaborative and innovative social service sector, and co-creating a better society with stakeholders across different sectors. The HKCSS has over 510 Agency Members, with service units throughout Hong Kong, providing high-quality social services to those in need.

Read more: Promoting Hong Kong as a Regional Philanthropic Hub through Co-Creation