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Hong Kong was an ideal investment platform for the Mainland insurance funds, the Secretary for Financial Services and the Treasury, Mr Frederick Ma, told a seminar on asset management of insurance funds today (June 26).
The seminar, organised by the Office of the Commissioner of Insurance, was attended by some 60 insurance and fund management experts from Hong Kong and the Mainland.
It aims to provide a forum for industry practitioners to exchange views and step up co-operation in developing complementary measures, which are of mutual benefits.
Speaking at the seminar, Mr Ma said the Mainland・s insurance funds, with an annual premium income exceeding 560 billion renminbi in 2006, reached an asset value of 1.97 trillion renminbi by the end of last year, representing a year-on-year increase of 29%.
：How such a large amount of insurance income is invested to achieve the best returns under good risk management has become a major consideration for the long-term development of the Mainland insurance sector," he said.
Mr Ma said Hong Kong could provide a full range of support services for the Mainland・s enormous insurance funds with its large pool of professional talents possessing extensive knowledge and experience.
Together with other advantages, such as a sophisticated financial infrastructure and regulatory regime, a competitive market as well as a globally interfaced financial system, Hong Kong had become an ideal conduit through which the Mainland・s investment could be channelled to the international markets, he said.
：We hope to be able to contribute to the long-term development of Mainland's insurance industry by taking the advantages of Hong Kong・s strengths as an international financial centre,； Mr Ma said.
Other speakers at today・s seminar included the Vice-Chairman of the China Insurance Regulatory Commission (CIRC), Mr Li Kemu, the Director General of the Insurance Fund Management Regulatory Department of CIRC, Mr Sun Jianyong, as well as asset management and insurance experts from Hong Kong.
Ends/Tuesday, June 26, 2007
Issued at HKT 16:00
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