Policy Address

Financial Services

16.         Apart from directly creating 230 000 jobs in Hong Kong and contributing 16% of our Gross Domestic Product (GDP), the financial services industry provides a catalyst for the growth of related sectors such as professional and commercial services.  Quality financial services also underpin our position as an international business hub.  In addition to helping local enterprises seize business opportunities, the financial services industry also attracts Mainland and overseas companies to use Hong Kong as a platform for raising funds and developing regional business.

17.         In last year’s Policy Address, I announced the establishment of the FSDC to provide a high-level, cross-sectoral platform to advise the Government on ways to further develop Hong Kong’s financial services industry.  The FSDC has submitted its first set of reports to the Government which analyse the opportunities and challenges for Hong Kong’s financial services industry.  The reports discuss in detail Hong Kong’s future positioning and strategic development as an international financial centre, and put forward proposals in respect of Renminbi business, asset and wealth management, and real estate investment trusts.  The Government will examine and follow up on these proposals in collaboration with financial regulators.  We expect the FSDC to keep consulting the industry on ways to promote the development of financial services and make further recommendations.

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