More resources set for financial development

Top News | Samantha Wong 12 Oct 2017

Carrie Lam said the government will allocate more resources to the Financial Services Development Council to enhance its role in promoting market development and nurturing talent.

The SAR government established the FSDC in 2013 as a "high-level, cross- sectoral advisory body" to engage the industry in formulating proposals to promote the further development of Hong Kong's financial services industry and to map out the strategic direction for development.

The FSDC set up five committees, namely the Policy Research Committee, the Mainland Opportunities Committee, the New Business Committee, the Market Development Committee and the Human Capital Committee, as the five streams of its work.

Meanwhile, Lam also said the government will take the lead in arranging the issuance of a green bond in the next financial year and promote the establishment of green bond certification schemes that meet international standards by local entities.

"Through this initiative, we seek to encourage investors in the mainland and along the Belt and Road as well as international investors to arrange financing of their green projects through our capital markets," Lam said.

Council chairwoman Laura Cha Shih May-lung said the FSDC is grateful for the recognition and welcomes the support by the chief executive and the government in providing the FSDC with additional resources to foster the development of the financial services industry.

"Moreover, we are encouraged to see that the government demonstrates clear commitment and leadership in promoting the development of green finance," she said.

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