Media OutReach
Hong Kong Trust Industry Well Positioned for Growth as Regulations Boost Credibility and Investor Confidence, KPMG and HKTA Report Shows
- Recent regulatory changes enhance credibility for corporate trustees but add to complexity and costs
- New eMPF Platform to reshape Hong Kong’s pension system and bring wave of change for pension trustees
HONG KONG SAR – Media OutReach Newswire – 18 March 2025 – Access to Chinese Mainland clients, Asia’s growing private wealth sector and improving industry credibility are underpinning a positive outlook for Hong Kong’s trust industry, provided practitioners can overcome the headwinds of increasing compliance costs and access to talent, according to a survey from the Hong Kong Trustees’ Association (HKTA) and KPMG.
The HKTA and KPMG conducted interviews with government officials and regulators, and almost 30 trust industry executives, alongside a digital survey of HKTA member institutions, in order to gauge the health of the sector, which performs a vital role in safeguarding assets held in pension schemes, as well as in corporate, charitable, private and public trusts.
Hong Kong’s trust market grew by 10% from 2021 to 2023, with HK$5,188 billion (US$667 billion)[1] of assets held under trusts at the end of 2023, compared with HK$4,719 billion (US$606 billion) when the previous HKTA-KPMG report was issued in 2021.
When considering the most significant growth engines over the next few years, 24% of respondents identified Chinese Mainland and Greater Bay Area (GBA) connectivity initiatives, such as Wealth Management Connect. A further 18% selected the Capital Investment Entrant Scheme (CIES) under which the Hong Kong SAR government has been attracting capital and family offices, and 18% selected similar initiatives focused on family offices and philanthropy.
The report found that recent regulatory developments are increasing confidence and enhancing protection for investors. These include the introduction of RA13 for depositaries of SFC-authorized Collective Investment Schemes (CISs) and the Hong Kong Monetary Authority’s Supervisory Policy Manual Module (TB-1). Sixty four percent (64%) of survey respondents said the regulatory regime is conducive to business, compared with 51% in 2021.
However, while new regulations are improving the business environment, they are also proving challenging to implement. Almost two-thirds of survey respondents (64%) reported that their compliance costs had increased by at least 5% to 15% over the past 12 months, partly because of increasing regulatory complexity.
Attracting talent was also seen as a significant industry headwind, with Legal & Compliance roles and Trust Administration the two most critical functions.
Hong Kong’s trust and fiduciary industry plays a critical role in the city’s success as a major international financial centre, employing a diverse range of professionals across banks, independent trust companies, insurers, private banks and legal, tax and accounting providers. The sector is critical in protecting the financial wellbeing of the vast majority of Hongkongers, including 87% of the working population who have assets held under the MPF[2] and ORSO[3] schemes.
Launching the report, HKTA Chairman Ms. Ka Shi Lau said: “Trustees continue to play a crucial role in Hong Kong’s financial system, and their importance is particularly evident in the MPF system, which is pivotal in safeguarding the retirement assets of Hong Kong people. With 2025 marking the 25th anniversary of MPF, it is fitting that the 4th Trust Industry Report is released in celebration of this milestone and provides an endorsement of the system’s good health. Moreover, the recent transition to the new eMPF Platform is a significant step forward for fund visibility and member-centricity. However, it will also bring both challenges and opportunities for trustees.”
Arion Yiu, Partner, Asset Management, Hong Kong, for KPMG China adds: “Pension funds remain the largest asset category held under trusts, underscoring the significance of the trustee role in safeguarding Hong Kong’s retirement savings. The transition to eMPF, while presenting challenges, will also compel the trust industry to explore new avenues for differentiation and place a greater emphasis on governance to better serve MPF members.”
Vivian Chui, Head of Securities and Asset Management, Hong Kong, for KPMG China said: “Recent regulatory developments have increased Hong Kong’s attractiveness and credibility as both a funds and a trust centre. However, this positive momentum must be met with a proactive approach to talent acquisition. Showcasing the diverse and rewarding career paths available within the industry will be crucial to attracting the next generation of professionals.”
Ms. Ka Shi Lau further commented: “While compliance, reporting and regulatory requirements are becoming increasingly stringent, these new standards are also bringing with them increased credibility. Hong Kong is rolling out the red carpet for global wealth. The trust industry needs to step up now, work together, and be proactive in serving these clients or risk missing out on the opportunity to solidify Hong Kong’s position as a leading global trust centre.”
For a full copy of the report, please visit the HKTA Website or the KPMG Website.
Hashtag: #KPMG
The issuer is solely responsible for the content of this announcement.
The Hong Kong Trustees’ Association
The Hong Kong Trustees’ Association Limited (HKTA) was established in 1991 by members of the trust and fiduciary services sectors to represent the trust industry in Hong Kong, particularly in the areas of legislation and education. It is a not-for-profit company limited by guarantee and incorporated in Hong Kong. The HKTA currently has more than 220 corporate and individual members, and represents thousands of people working in the trust, pensions, private banking, asset servicing, legal, accounting and other professional services fields.
Mission:
- Represent the trust industry in promoting high standards of professionalism, corporate governance and regulatory compliance;
- Contribute towards advancing the status of Hong Kong trust professionals and that of the industry internationally;
- Represent the industry to the government, the media, local and international professional bodies and the public in promoting Hong Kong as an international trust and fiduciary services centre;
- Promote quality standards for the industry by the issuance of Best Practice Guides applicable to corporate trusts, pension schemes, private trusts and charitable trusts;
- Contribute towards enhancing the education and knowledge of practitioners in the trust industry through relevant trust accreditation and training programmes.
- Contribute towards enhancing public education on trust fraud.
KPMG
KPMG in China has offices located in 31 cities with over 14, 000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. It started operations in Hong Kong in 1945. In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. In 2012, KPMG became the first among the “Big Four” in the Chinese Mainland to convert from a joint venture to a special general partnership.
KPMG is a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organisation or to one or more member firms collectively.
KPMG firms operate in 142 countries and territories with more than 275, 000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.
Celebrating 80 years in Hong Kong
In 2025, KPMG marks “80 Years of Trust” in Hong Kong. Established in 1945, we were the first international accounting firm to set up operations in the city. Over the past eight decades, we’ve woven ourselves into the fabric of Hong Kong, working closely with the government, regulators, and the business community to help establish Hong Kong as one of the world’s leading business and financial centres. This close collaboration has enabled us to build lasting trust with our clients and the local community – a core value celebrated in our anniversary theme: “80 Years of Trust”.
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Vinpearl Partners With Three Leading Indian Travel Companies, Unlocking Access To A 1.47 Billion-Person Market
The agreements were signed at the Vietnam–India Business Forum, held as part of the State visit of General Secretary and President To Lam to India, in the presence of General Secretary and President To Lam and Maharashtra Chief Minister Shri Devendra Fadnavis.
The partnerships are expected to open direct access channels to all customer segments, stimulate travel demand and experiential tourism, and ultimately position Vietnam as a “preferred destination” for India’s 1.47 billion people.
Representing India are three of the country’s most influential and trusted travel distribution channels: Thomas Cook India, SOTC Travel, and MakeMyTrip. Thomas Cook India has strong expertise in group travel, corporate travel, and large-scale MICE tourism. SOTC Travel is well known for family vacations, group tours, and mid- to high-end leisure travel. Meanwhile, MakeMyTrip, India’s leading online travel platform, has a strong advantage in reaching younger travelers, independent tourists, and digitally-driven booking behaviors.
Representing Vietnam is Vinpearl, the country’s leading hospitality, tourism, and entertainment brand, operating nearly 60 properties nationwide. Its diverse five-star “all-in-one” ecosystem offers accommodation, shopping, dining, entertainment, golf, and MICE services, making it particularly well-suited to the travel preferences of Indian visitors, including large group travel, multi-generational family vacations, and experience-rich holidays.
Through these partnerships, the parties aim to maximize each other’s strengths, enhance tourism development capabilities, and shape tailored travel products, gradually positioning Vietnam as a “preferred destination” for Indian travelers in the near future.
Speaking at the event, Ms. Ngo Thi Huong, CEO of Vinpearl, said: “India is one of the key markets in Vinpearl’s international expansion strategy. Through partnerships with leading industry players, we are not only broadening our market reach but also proactively developing products tailored to each customer segment. Vinpearl aims to strengthen its presence in the Indian market while contributing to positioning Vietnam as an attractive and distinctive destination on the global tourism map.”
Mr. Anubhav Bansal, Vice President of MakeMyTrip and representative of the three Indian partners, added: “Vinpearl operates one of the region’s leading integrated tourism and hospitality ecosystems, with a scale, product diversity, and destination experience portfolio that increasingly align with the preferences of Indian travelers. We believe Vinpearl is playing an important role in positioning Vietnam as an attractive destination for this market. Combined with the extensive distribution strengths of both sides, this partnership is expected to significantly boost Indian tourist arrivals to Vietnam in the coming years.”
India is currently the world’s most populous country, with 1.47 billion people. The country’s rapidly expanding middle class is driving a strong surge in demand for international travel.
Recognizing the strategic importance of the Indian market, Vinpearl has not only leveraged its scale and integrated “all-in-one” ecosystem but has also continuously developed specialized offerings for Indian travelers, including luxury wedding tourism, MICE travel, multi-generational family holidays, group trips, and couple getaways. In 2025, the number of Indian guests staying within the Vinpearl system surged by a record 402% year-on-year, followed by a further 335% increase during the first four months of this year compared to the same period last year.
The signing of MoUs with these three major market access partners marks the next step in Vinpearl’s strategy to sustainably grow its visitor base from the 1.47 billion-population Indian market, while also helping position Vietnam as a “preferred destination” for Indian travelers.
Hashtag: #Vinpearl
https://vinpearl.com/enThe issuer is solely responsible for the content of this announcement.
About Vinpearl
Vinpearl is Vietnam’s leading hospitality, tourism, and entertainment brand, currently operating 60 properties across 20 provinces and cities nationwide. Its ecosystem includes a network of five-star hotels and resorts in 35 provinces and cities with more than 17,300 rooms; 15 VinWonders theme parks offering attractions for all age groups; six world-class golf courses; and three international-standard convention centers and theaters under the VinPalace brand. The ecosystem also features two semi-wildlife conservation and care parks, an equestrian academy, and spectacular multi-million-dollar live performance shows in destinations such as Nha Trang and Phu Quoc, attracting millions of visitors each year.
About Thomas Cook India
Founded in 1881, Thomas Cook (India) Limited (TCIL) is one of India’s leading omnichannel travel and tourism groups, operating across foreign exchange, corporate travel, MICE, leisure travel, and value-added services.
TCIL owns and operates several major B2C and B2B brands, including Thomas Cook, SOTC, TCI, SITA, Sterling Holiday Resorts, Asian Trails, and Desert Adventures. The group has a presence in 28 countries across five continents and is one of the largest travel service networks headquartered in the Asia-Pacific region.
About SOTC Travel
Established in 1949, SOTC Travel is one of India’s oldest and most reputable travel and tourism brands. The company is part of Fairfax Financial Holdings through Thomas Cook (India) Limited (TCIL).
Operating through an omnichannel model, SOTC offers a wide range of services across leisure travel, incentive travel, and corporate travel. With more than 75 years of experience, SOTC has served millions of travelers across destinations worldwide and is recognized for its deep understanding of Indian travelers’ preferences and behaviors.
About MakeMyTrip
MakeMyTrip is India’s leading online travel booking platform, holding a dominant position in flight bookings, hotel reservations, and travel packages. With tens of millions of users and a strong digital ecosystem, MakeMyTrip covers the entire customer journey while maintaining a strong advantage in reaching younger travelers and independent tourists.
Bringing Together Business Leaders and Paralympic Gold Medalist to Discuss the “Invisible Strength” of SEN Mothers and Full-Time Moms
HONG KONG SAR – Media OutReach Newswire – 9 May 2026 – Hong Kong registered charity Hong Kong Momtrepreneurs (HKM) successfully held its annual Mother’s Day flagship event yesterday. This year’s event, themed “The Invisible Strength: Nurturing Families, Building Futures” (堅毅雙翼：滋養家庭‧創建未來), brought together business leaders and a Paralympic gold medalist to recognise and celebrate the resilience of full-time mothers and mothers of children with special educational needs (SEN) – both within their families and in society at large.
About Hong Kong Momtrepreneurs and the Moms4Moms Fellowship Program
Since its establishment in 2018, Hong Kong Momtrepreneurs has been committed to encouraging mothers to rediscover their value through lifelong learning and an entrepreneurial mindset. Its flagship programme, the Moms4Moms Fellowship Program, aims to help mothers transform their “invisible labour” into socially recognised capabilities – combining entrepreneurial knowledge with practical skills, so that mothers can pursue their dreams while caring for their families.
Lena Wong, Founder of HKM, said: “The potential of full-time mothers has long been overlooked, leading to a hidden waste of talent. Through our Fellowship, we hope to take the soft skills and life experiences cultivated through motherhood, combine them with practical entrepreneurial knowledge and skills, and channel them back into society – creating a positive impact across different communities and levels.”
Annual Theme & Partner Support
This year’s theme focused on a marginalised group of mothers – especially SEN mothers who face multiple challenges. The event was supported by The Payment Cards Group as its lead supporting partner.
In her keynote address, Beatrice Tai, CEO of The Payment Cards Group, shared how the development of accessible payment technology can provide meaningful support to mom entrepreneurs:
“Mobile payments enable mothers to work from home, run online stores, or participate in markets. The application process is relatively simple, funds flow back quickly, and it also provides data analytics reports – allowing merchants to understand sales figures, customer profiles, and payment habits, and thus make more precise marketing strategies.”
Ms. Tai added: “AI and accessible payment technology are becoming a powerful ‘Invisible Strength’ for mom entrepreneurs – helping them close opportunity gaps and solve business pain points.”
Star Panel: Cross-Sector Guests Share Heartfelt Experiences
A highlight of the event was the themed panel discussion, where guests shared their insights on supporting mothers – from both personal and corporate perspectives:
- Ho Yuenkei, BBS (Paris 2024 Paralympic Boccia Double Gold Medalist) – Shared a moving account of how her mother’s unconditional love, support, and acceptance shaped her childhood, enabling her to overcome obstacles and achieve greatness.
- Olivia Wong (General Manager – Environmental & Social Responsibility, MTR Corporation) – Pointed out that flexible working hours offered by companies can effectively help mothers balance work with their children’s school schedules.
- Lucia Ngan (Project Manager, Learning Bridge) – Shared how diverse daily activities can support SEN youth and their mothers in both learning and daily life.
Professional Judging Witnesses 12 Mothers’ Business Pitches
The event also hosted the Moms4Moms 2025/26 Graduation Ceremony. Twelve fellows from diverse backgrounds – including mothers of SEN children – delivered 60-second business pitches to a distinguished panel of judges. These graduates showcased the confidence they had regained through the programme, transforming their caregiving experiences into commercially viable plans. Their brilliance shone through.
Judging Panel:
- Danny Lap Lee – Managing Partner, VCA Capital Limited
- Prudence Wat – Human Resources Director, Cyberport Asia
- Lisa Lam – Deputy Executive Director, HandsOn Hong Kong
Looking Ahead
Looking to the future, Lena Wong shared that Hong Kong Momtrepreneurs will continue to explore more diverse forms of support, guided by the real needs of the community – helping mothers realise their own value while caring for their families, and growing together.
Hashtag: #HongKongMomtrepreneurs
The issuer is solely responsible for the content of this announcement.
About Hong Kong Momtrepreneurs
Hong Kong Momtrepreneurs is a registered charity in Hong Kong that believes in the power of mothers supporting one another. Through its flagship Moms4Moms Fellowship, the organisation empowers mothers to bravely pursue their dreams – built on a foundation of trust, honesty, and mutual respect.
As Gulf markets accelerate toward smart and sustainable mobility, VinFast is expanding its EV presence in the Middle East with technology-focused products, connected vehicle capabilities, and long-term ownership solutions.
DUBAI, UAE – Media OutReach Newswire – 8 May 2026 – The Middle East is increasingly emerging as one of the next major battlegrounds for global electric vehicle brands, particularly as younger consumers across Gulf countries show rising interest in smart, technology-focused mobility solutions that combine premium specifications with advanced software and digital experiences. That shift has opened the door for newer EV manufacturers to compete alongside more established automotive brands.
The opportunity reflects larger market dynamics already transforming the region. Asian EV brands have rapidly expanded their footprint across Gulf countries in recent years, supported by growing demand for feature-rich vehicles, manufacturing scale advantages, and increasingly competitive pricing.
Against that backdrop, VinFast is positioning itself as part of a broader transformation reshaping the automotive landscape across the region. As governments accelerate investments in renewable energy, charging infrastructure, and smart city development, the transition toward electric mobility is gaining momentum across the Gulf.
For VinFast, the Middle East represents a strategic growth market within its wider international expansion plan. The company has been strengthening its presence with the VF 8 electric SUV, targeting consumers seeking a combination of advanced technology, premium features, and long-term ownership value.
VinFast’s broader strategy aligns closely with those changing consumer expectations. Rather than operating solely as a conventional carmaker, the company is developing a vertically integrated EV ecosystem that combines intelligent software, connected services, and smart manufacturing capabilities.
Globally, VinFast has delivered more than 400,000 vehicles and accumulated several years of real-world driving data. That foundation has supported the development of Advanced Driver Assistance Systems, connected vehicle technologies, and over-the-air software capabilities designed to continuously improve the ownership experience.
In the Middle East market, the VF 8 is positioned around technology, comfort, and practicality for regional driving conditions. The all-electric SUV offers dual-motor all-wheel drive capability with up to 402 horsepower in the Plus variant and a driving range of up to 493 km on a full charge under the NEDC standard.
Developed in collaboration with Italian design house Pininfarina, the VF 8 combines a modern exterior design with a spacious cabin focused on digital integration and passenger comfort. Available features include a 15.6-inch infotainment display, ventilated seats, a panoramic sunroof, an air ionization-equipped climate control system, and multiple ADAS technologies, including Highway Assist, Adaptive Cruise Control, Blind Spot Detection, and 360-degree Surround View Monitoring.
VinFast is also emphasizing after-sales support and ownership assurance as key differentiators in the region. The company offers a 10-year vehicle warranty or 200,000 km, alongside a 10-year unlimited-kilometer battery warranty. Customers additionally receive access to mobile services, roadside assistance, DC fast charging networks, and over-the-air software updates.
As Gulf markets continue embracing electrification and smart mobility concepts, VinFast is seeking to establish itself as a long-term player in the region’s evolving automotive sector. By combining advanced technology, connected vehicle capabilities, and scalable EV solutions, the company is reinforcing its ambition to compete in one of the world’s fastest-changing mobility markets.
Hashtag: #VinFast
The issuer is solely responsible for the content of this announcement.
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