Policy Address

Financial Services

16. Over the past four years, the Financial Services Development Council (FSDC) has released 26 reports, taking into account views from experts and putting forward an array of recommendations on the sustainable development of Hong Kong’s financial market and financial services sector. The Government will actively consider the recommendations on taxation, laws and regulations, nurturing talent, etc., and implement the feasible measures. We will continue to provide the FSDC with the necessary resources, and fully support its work. With offices around the globe, the Hong Kong Trade Development Council (TDC) has an extensive network in the Mainland and overseas, as well as solid promotional experience. I have therefore decided to request the TDC to collaborate with the FSDC and the industry to strengthen the promotion of our financial services industry outside Hong Kong.

17. The Shenzhen-Hong Kong Stock Connect launched last month has further reinforced Hong Kong’s status as an international financial centre of our country and a global offshore Renminbi (RMB) business hub. The Government will promote the realisation of mutual access of exchange-traded funds to expand the scope of eligible securities for trading.

18. The National 13th Five-Year Plan has confirmed Hong Kong’s status as a global offshore RMB business hub. The demand arising from the Belt and Road Initiative and the Mainland-Hong Kong Mutual Recognition of Funds Arrangement will enable Hong Kong to further expand its RMB business.

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