Photo shows a view by Victoria Harbor in Hong Kong, south China, on June 11, 2020. (LI GANG / XINHUA)

The Financial Services Development Council has pledged to develop Hong Kong as an international finance center that is connected to the financial markets of the Chinese mainland and overseas countries.

On Monday, the FSDC released its ninth annual report for the fiscal year from April 1, 2021, to March 31, 2022.

“Connectivity is our raison d’etre; hence the theme of this annual report: Hong Kong is an international financial centre connecting to the world,” FSDC Chairman Laurence Li Lu-jen said.

Connectivity is our raison d’etre; hence the theme of this annual report: Hong Kong is an international financial centre connecting to the world.

Laurence Li Lu-jen,
FSDC Chairman

“The description of Hong Kong as the ‘Chinese mainland’s international financial centre’ highlights another basic fact: our success is rooted in the success of the nation as a whole,” Li added.

In the last year, the FSDC launched seven research reports and other publications to propose relevant policies that can enhance Hong Kong’s status as an international financial center, with a focus on strengthening Hong Kong’s proposition as a leading capital formation hub; revitalizing the real estate investment trusts market; leveraging the financial infrastructure to fuel further growth of the biotech and healthcare industries; formulating a cybersecurity strategy for the financial services industry; as well as attracting and nurturing talent in environmental, social and corporate governance, and fintech.

ALSO READ: Hong Kong in a better position to consolidate financial center status and serve national development

The agency is actively organizing, co-organizing or participating in a total of 70 events, as well as conducting more than 100 industry outreach and engagement meetings to promote the development of Hong Kong’s financial services industry locally and overseas.

On developing talent, the FSDC organized 12 activities under the “Talent Amplifier Program” to develop financial services talent.

Since 2013, the FSDC has made 181 recommendations, 131 of which have been adopted by the government at an adoption rate of 72 percent, the FSDC said.

The FSDC was established in 2013 by the government of the Hong Kong Special Administrative Region as a high-level, cross-sectoral advisory body to engage the industry in formulating proposals to develop the financial services industry in the city.

READ MORE: Hong Kong grows as global financial center