Financial services council says political turmoil impact limited

Business | 17 Jul 2019 6:28 pm

Hong Kong private banks have not yet seen capital outflows amid the political uncertainties, said Laurence Li Lu-jen, chairman of the Financial Services Development Council.

The turmoil may affect Hong Kong's image and the high net worth individuals may adopt a wait-and-see mode, Li said

He  reckons the current incidents will have a limited impact on the financial industry in the short-term.

The council today released its sixth annual report for the financial year ended to March 31, 2019.

During the year under review, the council carried out research and published five reports for the further development of the financial services industry, covering maritime leasing, digital identification and know-your-customer utilities, environmental, social and governance strategy, life insurance, and the Mandatory Provident Fund system.


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