Secretary for Financial Services & the Treasury Prof KC Chan says mutual recognition of funds between Hong Kong and the Mainland can drive Hong Kong into being a regional fund management hub.
Speaking to reporters today, Prof Chan said the arrangement benefits the fund management industry and betters the connection between the Hong Kong and Mainland markets.
He said the move is a healthy development for the market and also conducive to investors.
On the funding application for the Liantang/Heung Yuen Wai works, Prof Chan said as there is urgency in the project due to the validity of tender, and to avoid possible economic loss resulting from delay, it is in the public interest for the Government to bring it to the Legislative Council Finance Committee for consideration.