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Hong Kong is one of the
most vibrant international financial centres
in the world with sophisticated financial
infrastructure, world-class financial
professionals, a sound regulatory regime,
which is on a par with international standards,
and high liquidity and efficiency. The
Government's policy is to further reinforce
Hong Kong's position by making continuous
improvements to the regulatory system,
promoting corporate governance, strengthening
investor protection, fostering market
development and enhancing links and cooperation
with the Mainland.
Hong Kong had a number
of major achievements in 2005 including:
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becoming the
world's 15th largest banking centre
in terms of external assets and sixth
largest centre for foreign exchange
trading; |
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its stock market
being ranked eighth worldwide and
second in Asia in terms of market
capitalisation and fifth worldwide
and first in Asia in terms of equity
funds raised; |
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asset management
business topping $3,600 billion; |
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total outstanding
Hong Kong dollar debt securities reaching
$664 billion at year-end, up from
$608 billion a year earlier; |
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total assets
of Mandatory Provident Fund (MPF)
schemes growing to $151.36 billion
by year-end. About 98.2 per cent of
employers, 97.4 per cent of relevant
employees and 77.6 per cent of self-employed
people have enrolled in MPF schemes; |
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continuing
to be one of the most open insurance
markets in the world and achieving
an annual growth in premium of 17
per cent for the last five years. |
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