Group 1 - The core viewpoint of the report is that despite global economic uncertainties and geopolitical tensions, Hong Kong is strengthening its position as an asset management hub in Asia through targeted tax reforms, a robust IPO market, and progressive virtual asset regulation [1][2] - The total assets under management in Hong Kong's asset and wealth management sector are projected to increase by 13% in 2024, reaching HKD 35.1 trillion [1] - Recent optimizations to the Unified Fund Exemption (UFE) regime in Hong Kong have expanded the exemption scope to include private credit and other alternative assets, enhancing the competitiveness of Hong Kong [1][2] Group 2 - Hong Kong is actively working to establish a clear regulatory framework for virtual assets, with significant progress expected by 2025 as the number of local virtual asset trading platforms increases [1] - The report highlights Hong Kong's potential to act as a "super connector" by optimizing cross-border initiatives, thereby deepening ties with mainland Chinese investors [2] - The ongoing development of cross-border mutual recognition is significant, allowing Hong Kong advisory firms to offer a wider range of products in mainland China, positioning Hong Kong asset management firms favorably to serve emerging markets [2]