March 19, 2013

The Financial Services Development Council will strategically study the development of the local financial services industry covering short-, medium- and longer- term perspectives, council chairman Laura Cha says.
 
Speaking to the media after the council’s second meeting today, Mrs Cha said it will closely look at the elements required to enhance Hong Kong's future as an international financial centre, and the implications for Hong Kong's financial services industry arising from the future development of the Mainland's capital market.
 
Members endorsed the initiatives proposed for the five committees established under the council. They are the Financial Development Research Committee, the Mainland Opportunities Committee, the New Business Committee, the Market Development Committee, and the Human Capital Committee, all of which concluded their first meetings before today's council meeting.
 
The council will liaise with the financial services industry on opportunities in Qianhai, offshore renminbi business, and the further development of Hong Kong's asset and wealth management sector.
 
It will be a strategic co-ordinator for marketing plans among Hong Kong's key "Hong Kong Inc" stakeholders to maximise the impact of all promotion activities.
 
"Our members, coming from a wide range of segments, participated actively in constructive discussions and exchange of ideas on how to support the further development of Hong Kong's financial services industry.
 
"Being a cross-sector platform and a melting pot of ideas, the council will strive to complement existing efforts from the industry and stakeholders and be a strategic co-ordinator for the benefit of the whole industry."
 
Individual initiatives will be rolled out by the respective committees.
 
Their convenors are Laurence Li (Financial Development Research Committee), Qin Xiao (Mainland Opportunities Committee), Mark McCombe (New Business Committee), Benjamin Hung (Market Development Committee), and Edward Kwan (Human Capital Committee).
 
The council will also hold seminars, workshops, visits and roundtables over the coming months when rolling out the initiatives.