Government, statutory and public bodies
Financial literacy is an essential life skill in today's Hong Kong. A good understanding of financial matters is essential for our young generation to make responsible and informed financial decisions and plan for their future. The HKSFL, we believe, can synergise the effort of stakeholders and maximise the effectiveness of financial education.
Financial Services and the Treasury Bureau
Commission on Youth
Committee on Home-School Co-operation
Construction Industry Council
Hong Kong Strategy of Financial Literacy is promoting healthy and responsible financial management among the general public, which also benefits the construction talents and their families.
As a communications platform in construction industry, it is beneficial for the Council to support HKSFL's activities and share their professional knowledge and experiences. Riding on their proactive promotion efforts, we can enhance the financial knowledge within our industry.
Financial Dispute Resolution Centre
The Financial Dispute Resolution Centre (FDRC) fully supports HKSFL in the enhancement of financial literacy in Hong Kong. Being a part of the infrastructure of Hong Kong as an international financial centre, FDRC is committed to fostering an amicable financial environment for Hong Kong by providing an alternative dispute resolution platform. This platform offers independent, effective and cost-efficient mediation and arbitration services to the public in resolving their monetary disputes with financial institutions.
FDRC has been organising various promotional and educational campaigns, including investor education talks, community-based programs and public enquiry meetings, to improve the public awareness of FDRC and enhance the public financial literacy in the beneficial use of mediation. FDRC would be delighted in working closely with HKSFL in promoting the financial literacy in Hong Kong in dispute resolution and in other spectrum for the benefit of the Hong Kong community.
Hong Kong Deposit Protection Board
Hong Kong Deposit Protection Board (HKDPB) is an independent statutory body responsible for overseeing the operation of the Deposit Protection Scheme (DPS). The DPS protects deposits placed with Scheme members according to the Deposit Protection Scheme Ordinance. The effectiveness of the Scheme cannot be maximised useless it is known, understood and trusted by the community. Hence, the HKDPB has been implementing publicity initiatives, amalgamated with targeted community education activities to deepen the community’s understanding of the functions of the DPS and appreciation of the value of the DPS protection. We therefore see synergistic value and will support the work of HKSFL in contribution to the financial well-being of Hong Kong.
Hong Kong Exchanges and Clearing Limited
Hong Kong Exchanges and Clearing Limited welcomed the opportunity to become a supporting organisation of the HKSFL and help address the financial education needs of our society. As our financial services industry continues to grow and develop and offer more choices, everyone should have the knowledge they need when they are making investment decisions.
Hong Kong Institute of Certified Public Accountants
Hong Kong Institute of CPAs, the only statutory body for professional accountants in Hong Kong, takes its social responsibility seriously through mobilizing and empowering members to proactively and positively contribute to the development and well-being of the community. The Institute has been running the "Rich Kid, Poor Kid" financial education programme since 2005 to share one of the core skills of accountants – money management – with the younger generation. Our accountant ambassadors (CPA volunteers) visit primary and secondary schools across the territory to teach students about the right kinds of money values and skills as well as to encourage them to practice financial responsibility. We support the mission of HKSFL to strengthening the financial literacy of the general public.
Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) launches the Consumer Education Programme to educate the public to be smart and responsible financial consumers. We recognize the HKSFL’s vision of empowering the Hong Kong citizens to make informed and responsible financial decisions. The HKMA treasures the opportunity to support this initiative and the synergy in promoting financial literacy of the public in Hong Kong.
Hong Kong Police Force
Commercial Crime Bureau is committed to combating financial frauds and adopts a multi-agency approach to raise the public awareness of this kind of crime. In support of the HKSFL, we are proactively teaming up with relevant stakeholders to enhance the Hong Kong citizens' vigilance to financial frauds.
Senior Police Call (SPC) Scheme is to address the growing elderly population in local community and policing needs, and it adopts a multi-agency approach to engage the elderly and raise their awareness of anti-crime. SPC proactively teams up with various stakeholders including HKSFL to promote anti-investment scam to the elderly.
The Insurance Authority recognises the importance of financial education to the Hong Kong public for better consumer protection, financial stability and effective use of resources for the society as a whole. We fully support the HKSFL. We would continue to work with the IEC and believe that we could bring benefits of efficient utilisation of resources and enhance the financial literacy of the public.
Investor Education Centre
Established in 2012 and supported by the Education Bureau and all four financial regulators, the Investor Education Centre (IEC) is an organisation dedicated to improving financial literacy in Hong Kong. The IEC offers an independent and impartial financial education platform - The Chin Family providing free information, educational resources and programmes to help people in Hong Kong plan and manage their finances. The IEC is also the secretariat for the Hong Kong Strategy for Financial Literacy, which aims to harness the enthusiasm and efforts of various sectors by setting common goals that address the financial education needs of our society.
Mandatory Provident Fund Schemes Authority
Mandatory Provident Fund (MPF) is an important element in retirement savings. The MPF System is an employment-based system in which contributions to MPF schemes are made based on the relevant income of MPF scheme members (including employees and self-employed persons). Throughout their working life which may span over 40 years, scheme members are required to make a range of decisions that will have an important impact on their retirement savings. As such, improving the financial literacy of Hong Kong people can empower them to make informed decisions on their MPF investment in order to achieve better retirement protection. We believe that HKSFL is a key to raising awareness of and advancing financial education in our society.
Securities and Futures Commission
For Hong Kong to maintain its status as a leading international financial centre, its people must have a high degree of financial literacy. As the independent statutory regulator of Hong Kong's securities and futures markets, one of the core mandates of the Securities and Futures Commission (SFC) is investor education. In 2012, the SFC delegated this function to the Investor Education Centre, a wholly-owned subsidiary, which now plays a leading role in educating financial consumers through the HKSFL.
Working Family and Student Financial Assistance Agency
The Working Family and Student Financial Assistance Agency is committed to providing financial assistance to needy families in Hong Kong and has been active in promoting prudent financial management among young people, especially student loan borrowers, in order that they can better manage their finance and be prevented from loan default. It is important for every individual to possess adequate financial awareness, knowledge, skills, attitudes and behaviours to make sound financial decisions and achieve financial well-being and we support the multifaceted and coordinated approach of the HKSFL in advancing financial literacy in Hong Kong.