Hong Kongis one of the world’s major financial centres, with the second largest stock exchange in Asia after Tokyo and third largest in equities and initial public offerings in the world. It is one of the fastest growing tax havens and is attractive to many international companies as offshore profits are generally not subject to tax. The island’s fund management industry is worth over $2.1 trillion and there is over $350 billion in private banking assets. In 2015,Hong Kong topped the list of the highest density of Ultra High Net Worth Individuals who have personal wealth of over $100 million, at 15.3 per 100,000 households. China’s control overHong Konghas helped shield it from global transparency initiatives.