Group 1 - The Hong Kong government has implemented the "2024 Company (Amendment) (No. 2) Ordinance," allowing companies to relocate their registration to Hong Kong, benefiting from transitional tax arrangements and elimination of double taxation [1][3] - AXA announced its relocation of AXA Insurance (Bermuda) Ltd. to Hong Kong, reflecting its commitment to local customers and support for Hong Kong as a leading international financial center [1][5] - Manulife Insurance plans to relocate to Hong Kong starting November, indicating confidence in Hong Kong's status as an international financial hub [1][5] Group 2 - The relocation mechanism is designed to reduce legal and operational costs for insurance companies looking to expand in Hong Kong and mainland China [2][3] - The new mechanism simplifies the process for foreign companies to move their registration to Hong Kong, allowing them to retain their corporate identity and avoid operational disruptions [4][5] - The international context, including the OECD's implementation of a global minimum tax rate, has pressured offshore entities to consider relocating to jurisdictions like Hong Kong [5][6] Group 3 - The relocation to Hong Kong is seen as a strategic move to access the mainland Chinese market and enhance operational efficiency [7] - The long-term insurance business in Hong Kong saw a new premium income of HKD 219.8 billion in 2024, with a 21.4% year-on-year increase, driven by contributions from mainland policyholders [7] - The demand for cross-border retirement financial services is growing, particularly among the aging population in the Greater Bay Area [7][8]