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CPA Australia outlines recommendations for Hong Kong’s First Five-Year Plan and 2026 Policy Address
As one of the world’s largest professional accounting bodies, CPA Australia has today submitted to the government a comprehensive series of policy recommendations under the following themes:
- Strengthening Hong Kong’s position as a leading international financial centre
- Developing the Northern Metropolis as a key engine of economic growth and innovation
- Reinforcing Hong Kong’s role as an international trade hub
- Establishing leadership in sustainable finance and transition finance
- Building a future-ready workforce and innovation-driven economy
Macro vision and strategic positioning
Mr Cyrus Cheung, President of CPA Australia Greater China Division, emphasised the importance of long-term planning to support Hong Kong’s future competitiveness; “Hong Kong is entering an important period of economic development. The formulation of Hong Kong’s first Five-Year Plan alongside China’s 15th Five-Year Plan and the 2026 Policy Address provides an opportunity to leverage the city’s unique strengths, support innovation and sustainable investment, and strengthen its long-term competitiveness.”
Mr Cheung said Hong Kong should build on its role as a “super-connector” and “super-value-adder” by broadening its strategic focus beyond traditional trade and financial flows. “We recommend positioning Hong Kong as a comprehensive capital markets hub encompassing commodities, precious metals, carbon products, digital assets and RMB-denominated products. Given its strong financial, regulatory and legal foundations, Hong Kong should set a long-term ambition to become Asia’s leading centre for gold trading, clearing, settlement, financing and risk management.”
He added that Hong Kong is well placed to play a larger role in supporting the international expansion of Chinese enterprises.
CPA Australia’s recent research on Chinese enterprises going global found that over 3,000 A-share listed companies generated RMB 4.90 trillion in overseas revenue in the first half of 2025 alone. As Chinese enterprises continue to expand into ASEAN, the Middle East, Africa and other international markets, Hong Kong should position itself as the leading provider of professional services to support their global growth.
Enhancing Hong Kong’s capital market ecosystem
Mr Kelvin Leung, Deputy President of CPA Australia’s Greater China Division, highlighted key priorities for enhancing Hong Kong’s capital market ecosystem; “Hong Kong’s long-term success will depend on its ability to evolve beyond a traditional IPO fundraising centre into a comprehensive capital formation centre, positioning the city’s financial sector at the heart of international capital flows between entrepreneurs, investors, institutions and global markets.”
Mr Leung said this evolution should be supported by the continued development of areas such as digital finance, asset tokenisation, offshore RMB business, wealth management and family offices. “To support Hong Kong’s long-term development, the government should leverage the Hong Kong Investment Corporation (HKIC) to catalyse private sector investment in strategic industries. To further strengthen the economy, we encourage the government to develop a Capital Formation Strategy in close collaboration with Mainland regulators.”
Mr Leung added that maintaining Hong Kong’s tax competitiveness will be critical to preserving its status as a leading international financial centre. “We suggest a comprehensive review of Hong Kong’s tax system, potentially structured as a series of interconnected reviews covering key sectors including family offices, funds, corporate treasury centres, insurance, and private credit. Led by the Advisory Committee on Tax Policy, these reviews should focus on reducing administrative burdens, assessing substance requirements and safeguarding the city’s international investment appeal.”
Accelerating Northern Metropolis growth and technology commercialisation
Dr Albert Wong, a divisional councillor on CPA Australia’s Greater China Division, outlined a potential roadmap to support Hong Kong’s technological transformation: “The Northern Metropolis should be positioned as an internationally connected engine of growth and innovation, serving as a strategic platform bringing together world-class universities, research institutions, multinational corporations, investors and technology enterprises to accelerate the development and commercialisation of new technologies.”
Dr Wong said stronger support is needed to help innovative ideas move more efficiently from research laboratories to commercial markets. “To strengthen Hong Kong’s innovation ecosystem, we recommend establishing a ‘Government-as-First-Customer’ procurement program to support local tech firms. We also recommend leveraging the HKIC as an anchor investor, where appropriate, to help attract private capital into locally developed technologies, alongside the creation of a University Commercialisation Acceleration Fund, to expedite the translation of research into commercial outcomes.”
He added that Hong Kong should further strengthen support for business adoption of artificial intelligence (AI) and digital technologies. “To align with the national ‘AI+’ initiative and enhance business competitiveness, Hong Kong should expand support for AI adoption through measures such as an AI Adoption Support Scheme for SMEs and a Cross-Border Data Exchange Sandbox with the GBA.
Dr Wong emphasised that realising the full benefits of AI requires significant investment in education, workforce development and talent attraction. “Capturing the opportunities presented by AI requires a fundamental transformation in education and workforce skills. Hong Kong should aim for higher levels of digital literacy, critical thinking, communication and human-AI collaboration across all levels of education and training,”
Leadership in sustainable and transition finance
Highlighting long-term economic resilience and sustainable growth, Mr Cyrus Cheung added that said Hong Kong is well positioned to play a leading role in financing Asia’s transition to a lower-carbon economy. “Building on its strengths as a leading centre of finance and professional services, Hong Kong is uniquely positioned to become Asia’s leading centre for financing the transition to low emissions technologies and serve as a bridge between the Chinese Mainland’s carbon markets and international investors. The Five-Year Plan should include a clear ambition to develop a comprehensive ecosystem for sustainable finance, transition finance, carbon trading, climate-related reporting, assurance and advisory services.”
Mr Cheung said Hong Kong has a unique opportunity to leverage its access to both Mainland and international capital to support the region’s decarbonisation efforts. “By adopting international sustainability standards and leveraging its access to Mainland and global capital, Hong Kong can play a leading role in mobilising investment for Asia’s decarbonisation transition. The Northern Metropolis should also be positioned as a demonstration zone for sustainable urban development and green infrastructure.”
CPA Australia believes that aligning near-term policy initiatives with a clear five-year strategic framework will help Hong Kong strengthen its competitiveness and accelerate its development into a more diversified, innovative and resilient economy.
Hashtag: #CPAAustralia
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About CPA Australia
CPA Australia is Australia’s leading professional accounting body and one of the largest in the world. We have more than 176,000 members in over 100 countries and regions. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. A CPA is a Certified Practising Accountant. More at 
cpaaustralia.com.au
With a career spanning both hotel operations and commercial leadership, Sammy brings 38 years of hospitality experience across the Chinese Mainland and Hong Kong to the role. He spent a decade in hotel operations before moving into sales leadership, where he drove growth for a number of hotel brands. His experience across Marriott luxury brands including St. Regis and Mandarin Oriental, equipped him with a well-rounded perspective to guest experience, making him well-placed to navigate the dynamic pace of Macau’s fast-evolving lifestyle luxury landscape.
In 2021, Sammy rejoined Marriott International as Director of Sales & Marketing at W Hong Kong and was promoted to Hotel Manager during his tenure there. His contributions to the property were recognized with the “Sales Hotelier of the Year” title from Stelliers Greater China in 2023, and W Hong Kong retained its Four-Star rating in the Forbes Travel Guide 2026 under his leadership.
“It’s an honor to step into this role at W Macau – Studio City, a hotel that captures the bold spirit at the very heart of the W Hotels brand. This property embodies the vibrant energy and cultural crossroads that make Macau such an electric destination, and I’m thrilled to lead our dynamic talents as we continue delivering the iconic Whatever/Whenever™ experience our guests have come to expect. offering a unique brand of contemporary luxury that goes above and beyond,” said Sammy King, General Manager, W Macau – Studio City.
Born and raised in Hong Kong, Sammy holds a Bachelor’s Degree in Business Administration (Marketing Management) from the Royal Melbourne Institute of Technology. Outside of his professional life, he is passionate about traveling, snowboarding and fitness, adding to his dynamic personality.
Hashtag: #WMacau–StudioCity
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About W Macau – Studio City
Situated within the vibrant Studio City integrated resort on Macau’s Cotai Strip, W Macau – Studio City is envisioned as a gateway for guests to explore and discover the city in an exciting contemporary context. Drawing inspiration from the enchanting nostalgia of the golden age of cinema, the hotel seamlessly weaves a tangible thread of Macau’s unique East-meets-West culture and history into its design. With 557 stylish guest rooms, W Macau – Studio City showcases four distinctive B&F offerings, state-of-the-art facilities and amenities, and Greater China’s first W Sound Suite, epitomizing its unique manifestation of new luxury.
About W Hotels
Born from the social electricity of New York City, W Hotels has been at the forefront of lifestyle hospitality for over two decades. With 70 destinations around the world, the detail-driven design, signature Whatever/Whenever service, and buzzing Living Rooms cultivate experiences of social connectivity. Each location brings together the magnetic energy of W Hotels and the essence of local culture, creating spaces for new perspectives and a freedom of self-expression. W Hotels is currently undergoing a multi-year brand evolution, to meet the needs of today’s guests and deliver a new generation of luxury lifestyle experiences. For more information on W Hotels, visit w-hotels.com and stay connected on Instagram, TikTok, X, Facebook, and YouTube. W Hotels is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments and unparalleled benefits including complimentary nights and Elite status recognition. To enroll for free or for more information about the program, visit MarriottBonvoy.marriott.com.
About Marriott Bonvoy®
Marriott Bonvoy’s extraordinary portfolio offers renowned hospitality in the most memorable destinations in the world, with more than 30 brands that are tailored to every type of journey. From The Ritz-Carlton and St. Regis to W Hotels and more, Marriott Bonvoy has more luxury offerings than any other travel program. Members can earn points for stays at hotels and resorts, including all-inclusive resorts and premium home rentals, and through everyday purchases with co-branded credit cards. Members can redeem their points for experiences including future stays, Marriott Bonvoy Moments™, or through partners for luxurious products from Marriott Bonvoy Boutiques®. To enroll for free or for more information about Marriott Bonvoy, visit marriottbonvoy.com.
For more information on W Macau – Studio City, visit www.wmacaustudiocity.com or get social with W Macau – Studio City on Facebook @W Macau – Studio City/ Instagram @wmacaustudiocity / WeChat: 澳门W酒店.
Media OutReach
Marvel Capital Holdings Ltd Opens New Regional Office in Kuala Lumpur to Expand Private Trust and Cross-Border Family Office Solutions Across Asia
New KL Eco City office strengthens the company’s regional presence through strategic partnerships with leading banking, trustee, insurance, and wealth planning institutions.
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 13 August 2026 – Marvel Capital Holdings Ltd. officially marked a significant milestone with the grand opening of its new regional office at Mercu Aspire, KL Eco City, reinforcing the company’s long-term commitment to serving high-net-worth individuals, families, and business owners across Asia.
The opening ceremony was commemorated with a ribbon-cutting ceremony led by Mr. Jayden Wong, Managing Director of Marvel Capital Holdings Ltd., together with distinguished institutional partners and senior executives, including Mr. Jonathan Chan, Head of Legal of the European Credit Investment Bank (ECIB), Mr. Alvin Tan, CEO of AEI Asset Wealth, and Marvel Capital’s senior management team.
The new office represents more than a physical expansion—it reflects Marvel Capital’s vision of establishing Kuala Lumpur as a strategic regional hub for private trust advisory, wealth structuring, and cross-border family office solutions.
From this regional headquarters, Marvel Capital will serve clients across Asia by facilitating access to comprehensive wealth planning solutions, including private trust establishment, succession and legacy planning, wealth protection structures, insurance solutions, and cross-border family office services. Working closely with its network of institutional partners, the company aims to provide integrated solutions tailored to the evolving needs of affluent families, entrepreneurs, and business owners throughout the region.
Speaking during the ceremony, Mr. Jayden Wong, Managing Director of Marvel Capital Holdings Ltd., said the new office reflects the company’s confidence in the growing demand for sophisticated wealth planning and legacy solutions across Asia.
“As wealth continues to become increasingly global, families require more than traditional financial planning. They need well-governed structures that preserve wealth, facilitate succession, and support future generations. Our new regional office enables us to better serve clients across Asia by connecting them with trusted institutional partners and delivering integrated private trust and family office solutions.”
The ceremony also showcased Marvel Capital’s expanding network of strategic institutional partnerships, including the European Credit Investment Bank (ECIB), AEI Capital Group, Northern Global Asset Services Limited, a licensed Hong Kong trustee, Goldman Insurance PCC Ltd., and several newly established strategic partners. Together, these collaborations reflect a shared commitment to delivering internationally aligned wealth planning solutions through an integrated ecosystem encompassing banking, private trust, insurance, and cross-border family office services, underpinned by strong governance, regulatory expertise, and institutional excellence.
Located within the prestigious KL Eco City business district, the new office provides a modern environment for client consultations, strategic planning, and regional collaboration. It will also serve as a platform for professional education, industry engagement, and the continued development of cross-border wealth planning solutions for clients throughout Asia.
As Marvel Capital continues its regional expansion, the company remains committed to strengthening its strategic partnerships and delivering trusted, forward-looking wealth planning solutions that help individuals and families preserve, protect, and transition their legacies across generations.Hashtag: #MarvelCapital #OfficeOpening #WealthPlanning #PrivateTrust #FamilyOffice #LegacyPlanning #WealthProtection #CrossBorderWealth #FinancialServices #AsiaBusiness
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About Marvel Capital Holdings Ltd.
Experts say a self-contained, service-led residential format built for multigenerational ownership is emerging at the very top of the market — and that demand for it is rising worldwide.
SINGAPORE – Media OutReach Newswire – 13 August 2026 – Experts in premium residential real estate note that a distinct new category is forming at the top of the market, and that demand for it is rising around the world. Property market specialists describe the emerging tier as the presidence: a self-contained community of private residences bound together by shared infrastructure and anchored by a five-star hotel under an international brand — a format designed to be lived in and passed down across generations, rather than simply owned.
The trend reflects a structural shift in global wealth. According to Knight Frank’s Wealth Report 2026, the number of individuals worth more than US$30 million climbed from 551,435 to 713,626 between 2021 and 2026 — a gain of more than 160,000, equivalent to 89 people crossing that threshold every day. Forbes, meanwhile, records 3,428 billionaires worth a combined US$20.1 trillion.
This wealth is also increasingly mobile. Henley & Partners projects that 165,000 high-net-worth individuals will relocate internationally in 2026 — a 16 per cent rise on the record 142,000 of 2025 — as affluent families build cross-border portfolios of homes and residence rights rather than tying themselves to a single jurisdiction. The appetite for professionally serviced, brand-anchored homes is visible in the development pipeline: Savills reports that the number of branded residential schemes worldwide grew 19 per cent in 2025, to around 910, and is on course to reach 1,747 by 2032, with the Middle East and North Africa the fastest-growing region over the past five years, at 187 per cent.
As the apex of the wealth pyramid rises, specialists say, demand at the very top is moving away from headline price-per-square-foot toward space, privacy, wellbeing, autonomy and a home that can be held and handed down across generations. The case for treating this as a distinct category was set out in a recent column by real estate adviser Ku Swee Yong, CEO of International Property Advisor Pte Ltd and an adjunct faculty member at Singapore Management University, where he teaches Real Estate Investments & Finance.”Luxury residence has a new crown, and it has a name: presidence,” he writes.
According to the expert, a property of this kind should meet several defining criteria: it should occupy an exceptional location among peer residences, be built to the highest standards of quality, provide space, a healthy natural environment, security and self-sufficiency, and create a place where owners and their families can live out every stage of life — building careers, raising children, enjoying leisure, prioritising health and wellbeing, welcoming family and friends, and ultimately passing the home down through generations. Privacy in this case does not mean isolation: rather than retreating behind their own gates, members of the presidence become part of a carefully formed community of peers, surrounded by people with comparable values, interests and ways of life.
These principles are, in practice, being formalised into a fuller set of criteria that distinguish a presidence from a conventional luxury development. At its most complete, the format is defined by:
- A five-star hotel operated by an international brand present in at least three countries, located within the development;
- A single estate of 200 hectares (around 500 acres) or more;
- Full-spectrum infrastructure within one perimeter — indoor and outdoor sport, a central clubhouse, wellness, dining, parks and natural areas, a medical centre, recreation and security, plus a lifestyle anchor such as a golf, equestrian or yacht club;
- A clear separation of public and private zones, with residences kept behind their own multi-layered security perimeter and isolated from guest-facing spaces such as the hotel, restaurants and spa;
- A 24/7 premium service model featuring a dedicated resident care team, concierge services, standardised service-level agreements (SLAs), and a digital platform for managing every household and lifestyle need;
- A unified architectural code governing the style and coherence of every building on the estate;
- An equal-neighbour principle, under which a community of like-minded owners who can enjoy privacy while remaining part of an engaging social environment is formed.
Fully integrated examples remain rare worldwide, and demand, specialists say, is running ahead of supply as the number of ultra-wealthy households continues to grow.
Hashtag: #property #realestate #residentialproperty #hnwi
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