FSTB discusses spirit of 20th National Congress of Communist Party of China and highlights of Chief Executive's 2022 Policy Address with financial services industry (with photos)

     The Financial Services and the Treasury Bureau (FSTB) today (November 11) held an online meeting with leaders of over 30 financial services institutions to discuss the spirit of the 20th National Congress of the Communist Party of China and highlights of the Chief Executive's 2022 Policy Address.
     In addition to representatives from the securities, banking, insurance, fintech and wealth management industries and professional organisations, over 20 members of the FSTB's Working Group on Integration into National Development also participated in today's financial services network meeting. Young colleagues were able to learn more about how to grasp the opportunities to better integrate into national development and exchange views with the financial services industry.
     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, told the participants that the 20th National Congress of the Communist Party (CPC) of China, during which a report presented by General Secretary Xi Jinping on behalf of the 19th CPC Central Committee was approved, concluded victoriously on October 22 in Beijing. The report stressed that the policy of "one country, two systems" is a great innovation of socialism with Chinese characteristics and the best institutional arrangement for ensuring sustained prosperity and stability in Hong Kong after its return to the motherland, and therefore it must be adhered to over the long term.
     Mr Hui said, "General Secretary Xi's report gives us strong confidence to better integrate into the overall development of our country. The FSTB will motivate Hong Kong to leverage its unique advantages of enjoying the strong support of the motherland and being closely connected to the world under 'one country, two systems', in order to bring high-quality development of the financial industry and contribute to our country."
     The Under Secretary for Financial Services and the Treasury, Mr Joseph Chan, pointed out that General Secretary Xi put forward "four musts" and "four proposals" in his important speech delivered on July 1 this year, illustrating substantial directions for Hong Kong's future. He also noted that, as mentioned in the Chief Executive's 2022 Policy Address, the FSTB will adopt a result-oriented approach and spare no effort to promote a number of new initiatives under three areas: creating strong impetus for growth, earnestly addressing people's concerns and difficulties in daily life, and working together to safeguard harmony and stability. The new initiatives include enhancing the competitiveness of Hong Kong's financial services, nurturing talents, promoting digitalisation and regulating crowdfunding activities.
     Mr Hui and Mr Chan have been exchanging views with the industry from time to time by utilising the platform of the financial services network meeting to facilitate good communication and close co-operation between the Government and the financial services sector, benefitting the overall development of the financial industry in Hong Kong.

Ends/Friday, November 11, 2022
Issued at HKT 19:08