****************************************
The following is issued on behalf of the Financial Services Development Council:
The Financial Services Development Council (FSDC) today (July 14) released its first annual report, which covers the period from January 2013 to March 2014.
The Chairman of the FSDC, Mrs Laura M Cha, said, "In the first 15 months of its establishment, the FSDC set the course and built a sound foundation for its work through formulating a macro overview of Hong Kong's position as an international financial centre as well as making specific proposals on further market development."
Mrs Cha noted that in 2013-14, the FSDC submitted a total of six reports to the Chief Executive of the Hong Kong Special Administrative Region. The reports were prepared after in-depth research, discussion with industry experts, and thorough deliberation by FSDC members. In addition to preparing research reports, the FSDC also participated in several financial forums and seminars (including the International Financial Centres Forum 2013 Global Series and the Asian Financial Forum 2014) to promote Hong Kong's advantage as Asia's pre-eminent international financial centre.
Looking ahead, the FSDC will continue to reach out to different sectors of the industry in order to understand concerns in each of their areas. The FSDC will also continue to collaborate with regulators on policy initiatives, and launch promotional efforts with stakeholders to further raise the profile of Hong Kong's financial services industry.
"With members' dedication and enthusiastic participation in driving our vision and mission, I am confident that the FSDC will continue to play a role in enhancing Hong Kong's position as a globally significant international financial centre," Mrs Cha said.
The annual report can be downloaded from the FSDC website: www.fsdc.org.hk.
About the FSDC
The Hong Kong Special Administrative Region Government announced in January 2013 the establishment of the FSDC as a high-level, cross-sectoral advisory body to engage the industry in formulating proposals to promote the further development of Hong Kong's financial services industry and to map out the strategic direction for development.
The FSDC established five committees, namely the Policy Research Committee, the Mainland Opportunities Committee, the New Business Committee, the Market Development Committee and the Human Capital Committee.
Ends/Monday, July 14, 2014
Issued at HKT 12:30
NNNN
