FEHD announces latest arrangement and enhancement measures for public niche allocation
The Food and Environmental Hygiene Department (FEHD) announced today (March 24) the latest arrangement and enhancement measures for public niche allocation.
Having reviewed the current supply and demand for public niches, the FEHD will enhance the existing public niche allocation arrangements. A new monthly allocation arrangement will be launched with effect from August 1 this year to replace the annual allocation. Under the new arrangement, in addition to the existing monthly allocation for Tsang Tsui Columbarium in Tuen Mun, the Department will include three additional columbaria for monthly niche allocation: Shek Mun Columbarium in Sha Tin, Wo Hop Shek Columbarium Phase VI in Fanling, and Cape Collinson-San Ha Columbarium in Chai Wan.
An FEHD spokesman said, "The new arrangement will commence in August. To facilitate its implementation, the Department will conduct an annual allocation exercise in April this year to address the demand for niches that has arisen since last year's annual allocation. In this Annual Allocation exercise, the FEHD will allocate a total of 12 150 extendable public niches, comprising 4 000 standard niches and 50 large niches at each of Cape Collinson-San Ha Columbarium, Wo Hop Shek Columbarium Phase VI, and Shek Mun Columbarium. A public drawing of lots and computer random balloting are planned for late July to determine the allocation sequence for all eligible applicants and the designated niches allocated to successful applicants. The exact date will be announced in due course."
The spokesman added, "Starting from August 1, the FEHD will implement the new monthly public niche allocation mechanism, providing a total of not less than 1 600 extendable niches each month across Tsang Tsui Columbarium, Cape Collinson-San Ha Columbarium, Wo Hop Shek Columbarium Phase VI and Shek Mun Columbarium (details of niche allocation are set out in the Annex). In the past two years, about 18 000 niches were allocated each year. The monthly supply of not less than 1 600 extendable niches, making a total supply of not less than 19 000 niches in a year, is sufficient to meet public demand. The Department will closely monitor monthly niche application trends and review and adjust the relevant arrangement as appropriate in light of actual needs."
The spokesman emphasised that every applicant will be allocated a niche under the new monthly allocation arrangement. If the number of applications for a particular columbarium exceeds the available quota, resulting in applicants not being allocated a niche at their selected columbarium, the FEHD will automatically allocate a niche at Tsang Tsui Columbarium. In such circumstances, applicants may decide whether to accept the automatically assigned niche at Tsang Tsui Columbarium.
If applicants choose to decline the automatically allocated niche at Tsang Tsui Columbarium, they may re-submit applications in the next monthly allocation exercise. However, if a successful applicant declines an allocated niche at their selected columbarium, the FEHD will not accept a further application for the same deceased person at the same columbarium for a period of six months thereafter.
After the implementation of the new monthly allocation arrangement, the FEHD will no longer conduct annual allocations.
For details of the niche allocation arrangements, please visit the FEHD website (www.fehd.gov.hk).
In addition, Wo Hop Shek Garden of Forever Love Phase II, which provides abortus keeping services, will be open for public application starting April 1 this year. Also from the same date, the columbarium's first water-soluble commemorative facility, "The Spring of Love", will be opened for public use.
Source: AI-found images
Speech by DFS at Wealth for Good in Hong Kong Summit 2026
Following is the speech by the Deputy Financial Secretary, Mr Michael Wong, at the Wealth for Good in Hong Kong Summit 2026 today (March 24):
Secretary for Financial Services and Treasury, the Honourable Mr Chris Hui, Permanent Secretary Ms Salina Yan (Permanent Secretary for Financial Services and the Treasury (Financial Services)), distinguished guests, ladies and gentlemen,
Good afternoon. Let me start by extending to all of you a warm welcome. Hong Kong launched this Summit three years ago, and I am glad to say it was an instant success.
A key goal of the Summit is to showcase what Hong Kong has to offer as a premier hub for family offices. When we started back in 2023, Hong Kong had about 2 700 single family offices. Now, the number is close to 3 400. The increase shows that more and more family offices around the world are recognising the huge benefits, and excellent services, that Hong Kong has to offer.
The theme of this year's Summit is "Building Lasting Legacies". We believe that family office is not just about investment performance. It is also about ensuring that precious family values can be passed on from generation to generation. It is about a lasting legacy.
This afternoon, I would like to share with you, quickly, three observations about how Hong Kong can contribute.
My first observation is that Hong Kong is a perfect base to support the prudent diversification of the investments by family offices. The world is getting more uncertain. Many conflicts are escalating and proceeding in a manner that is increasingly worrying and concerning.
Against this global backdrop, Hong Kong offers something that is quite rare and precious. Under "one country, two systems", Hong Kong provides an economic and business environment with policy predictability and institutional trust. Our common law legal system, independent judiciary, open economy, free flow of capital, freely convertible currency, and simple tax regime all work together to provide a welcoming and dependable home for wealth that lasts through generations - a home that is hard to find, or duplicate, in this complicated world.
And we have a very vibrant financial market. Yes, it does have its ups and downs like all markets do. But, in overall terms, there is great momentum and the direction of development is very promising. The total market capitalisation of our stock market rose to over US$6 trillion last year. And Hong Kong reclaimed the number one position as the world's leading IPO venue, raising about US$36 billion from 119 new listings. The year 2026 would most likely be another very productive year, as over 400 companies are applying to list in Hong Kong.
My second observation this afternoon relates to Hong Kong's family-office-friendly ecosystem. As I mentioned, Hong Kong is now home to close to 3 400 single family offices.
Assets under management in Hong Kong rose to over US$4.5 trillion in 2024, which was 11 times our GDP. And we saw inflows of about US$46 billion to Hong Kong-domiciled funds. In terms of the number of ultra-high-net-worth individuals, Hong Kong ranks second in the world.
Building on this strong momentum, we will introduce more policies and measures to give family offices even stronger support. One example is the New Capital Investment Entrant Scheme, under which qualified investors will be allowed to reside in Hong Kong under appropriate terms. This scheme started operation in March 2024, and has since attracted nearly 3 200 applications. It means an anticipated investment of over US$12 billion in Hong Kong.
And we will also expand the preferential tax regimes for funds, family-owned investment holding vehicles of single family offices and carried interest. Family offices in Hong Kong will soon enjoy more flexibility as their investment portfolio evolves. At a time when family offices increasingly turn their attention to investment tools such as private credit, precious metals and commodities, carbon credits, insurance-linked securities, and digital assets, our preferential tax regimes will also evolve in a timely manner to suit their changing needs. This will be done through a piece of new legislation, which should be ready within the first half of this year.
My third, and last, observation this afternoon relates to legacy. Building a lasting legacy demands more than sound investment decisions. It depends also on robust succession architecture, cultural depth, and convictions about our future.
That is why Hong Kong is strengthening our institutional architecture to support philanthropy and the passing on of wealth from one generation to the next. We have introduced tax incentives specifically designed to encourage philanthropic giving. We do not have any estate duty, any capital gains tax, or any tax on dividends. Sounds like music to the ears of family office managers. I know. But here I am telling the truth, the whole truth, and nothing but the truth.
Also, we understand that arts and cultural assets are an increasingly important component of family wealth. Hong Kong is therefore also working very hard to strengthen our arts and culture infrastructure. We opened the M+ Museum near the end of 2021. In a space of just a few years, this wonderful museum has gained a strong reputation as Asia's first global museum of visual culture. Right next to M+ is the Hong Kong Palace Museum, which opened in 2022, to house national treasures from Beijing's Forbidden City. These two museums, together with the marvellous West Kowloon Cultural District, have become the must-see places for many of our visitors from all over the world.
Right this month, Hong Kong is hosting more than 100 arts and cultural events, including Art Basel Hong Kong and Art Central, both of which will open this week. Do go and take a look. You will find yourselves in the good company of many international art lovers and traders, and may even find some great art pieces to add to your enormous family collection.
We will also enhance key components of the art lifecycle in Hong Kong. A museum-grade facility dedicated to the storage of art and high-value assets will be built within SKYTOPIA, which is Hong Kong's airport city. This facility is scheduled to open early next year. SKYTOPIA will integrate art storage and trade, yacht and water sports, culture and leisure, and much, much more.
Ladies and gentlemen, before I close I would like to leave you with the idea that you are not just observers of Hong Kong's efforts to be a premier hub for family offices. You are our partners, our fellow co-builders. Together, we will build not just wealth, but legacies that can withstand the test of time for generations and generations to come.
I wish everyone a most successful and productive Summit, and an enjoyable and memorable stay in Hong Kong. Thank you all very much.
Source: AI-found images
