Ex-financial officials join Greater Bay investment vehicle

Business | 16 Mar 2020 2:50 pm

The former financial secretary John Tsang Chun-wah and Ceajer Chan Ka-keung, the former secretary for financial services and the treasury, have joined Greater Bay Area Homeland Investments as independent non-executive directors.

Founded in 2018, the Greater Bay Area Homeland Investments is backed by many Chinese state-owned and private companies and local developers, including China Resources, China Merchants Group, China Evergrande Group (3333) and local developer Sino Land (0083).

The company set up the Greater Bay Area Homeland Development Fund two years ago, aiming to "support Hong Kong to develop into a world-class technology innovation center, boosting productivity and cooperating with Guangdong and Macau organizations and enterprises to support the development of the Greater Bay Area."

Tsang and Chan said they will not participate in the daily operation of the fund. Tsang said he hopes to encourage young people to seize the development opportunities in the Greater Bay Area and will use his experience and connections to support the company.

Many top government officials attended the launch ceremony at HKEX Connect Hall in December 2018, including Chief Executive Carrie Lam Cheng Yuet-ngor, Qiu Hong and Chen Dong, Deputy Directors of the Central Government Liaison Office in Hong Kong, and Xie Feng, Special Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region.

 

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