Does Hong Kong Recognise trusts?

Could you please clarify the legal status of trusts in Hong Kong? Does the jurisdiction officially recognize and uphold the validity of trusts as legal instruments? If so, what are the key provisions and regulations governing their establishment and operation? Furthermore, do Hong Kong courts have jurisdiction over disputes involving trusts, and how are they typically resolved? Understanding the recognition and treatment of trusts in Hong Kong is crucial for those seeking to establish or manage trust structures in the region.