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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 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 2006 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 sixth worldwide and second in Asia in terms of
market capitalisation; second worldwide and first in Asia in terms of equity
funds raised through initial public offerings; and third worldwide and first in
Asia in terms of total equity funds raised; |
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its asset management business topping $4,526 billion; |
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total outstanding Hong Kong dollar debt securities reaching $748 billion at
year-end, up from $664 billion a year earlier; |
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total assets of Mandatory Provident Fund (MPF) schemes growing to
$202.41 billion by year-end. About 98.5 per cent of employers, 97.7 per cent
of relevant employees and 74.5 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 16 per cent for the last five years; |
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the market capitalisation of Real Estate Investment Trusts (REITs) rising to
$53 billion by year-end; |
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the enactment of the Financial Reporting Council Ordinance, further
strengthening the regulatory regime of the accountancy profession and
upgrading the quality of corporate financial reporting. |
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