Julia Chan

“Our chamber has actively maintained close ties with global business communities, enhancing Hong Kong’s role as a link between Mainland China and the rest of the world,” said Dr. Felix Lee, Vice Chairman of the China Committee at the Hong Kong General Chamber of Commerce (HKGCC) 香港總商會, at the the first meeting of the Guangdong-Hong Kong-Macro Greater Bay Area Development Business Roundtable held in Guangzhou on April 25.  “Bilateral investment and integration are critical. For example, there is a significant lack of talent for digital industries in Hong Kong. We could definitely do more to draw talent from Guangzhou and Shenzhen,”he said. “Currently, Hong Kong faces prominent issues such as an aging population and relatively single-industry structure, resulting in mounting pressure on industrial transformation,” said Felix Lee. “To address these challenges, there is a need to facilitate the circulation of innovative elements across the Greater Bay Area to support Hong Kong's industrial upgrading. Moreover, we should expand the scope of cross-border medical data exchange for specific industries to allow more mainland industries to benefit from the economic growth brought by industrial digitalization. Besides, establishing mechanisms to attract talents and fully leverage the integrated market of the Guangdong-Hong Kong-Macao Greater Bay Area to create more opportunities in Hong Kong for attracting high-caliber professionals,” Felix Lee added. Read: https://lnkd.in/gZFbHJAK

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[INTEGRATING PHILANTHROPY: A HOLISTIC APPROACH TO WEALTH MANAGEMENT] #PhilanthropyWorkshop Li Foundation chanced upon a sharing session with Mr. Anthony Gao, Head of Philanthropy Services at Pictet Wealth Management Asia during one of his trips to Singapore. Currently based in Hong Kong, Mr. Gao is a seasoned professional with a diverse background in prestigious organizations such as the Bill & Melinda Gates Foundation, where Lionel met Mr. Gao for the first time in Seattle. Mr. Gao shared with us how #AsianPhilanthropy is evolving. In Asia, there exists a longstanding tradition of charitable giving and this is deeply rooted in the region's diverse cultures, political systems, and religious beliefs, making philanthropy in Asia uniquely distinctive. A few key trends observed includes philanthropists becoming more transparent and strategic in their giving. Strategic philanthropy acknowledges that despite its growth, philanthropy falls short in addressing global challenges. This approach, favoured by younger, next-generation philanthropists, emphasizes high- impact strategies and innovative social investment tools. With that, it leads to the other trend of greater collaboration between philanthropists which is crucial for maximizing impact and addressing complex global challenges effectively. From this conversation, #LIF’s approach in philanthropy is reinforced as we continue to seek greater collaboration with like-minded philanthropists in what we do. Mr. Gao is also a core member of #ImpactSG, a Community of Changemakers. ImpactSG was conceived in 2022 in response to Forward SG, and was launched as a ground-up initiative in 2023 to involve and activate the expanding community of Family Offices and High Net Worth Individuals to contribute both financially and non-financially to Singapore and the surrounding region. ImpactSG is part of the Asia Centre for Changemakers, a non-profit that is launched by Temasek Trust and the Wealth Management Institute.

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YTD 2024 (as of 5 Jun), the Hang Seng Index (‘HSI') has demonstrated an impressive gain of +8.1%, with ADT of HKD110.5bn. Riding alongside it, the lesser-known HSI SCHK Index (‘#HSISC’) also mirrors this success, posting similar returns of +9.6% YTD. With all constituents eligible in the Southbound #StockConnect, the HSISC also provides similar index features and a high correlated performance with its base index, the HSI, but merely excludes six HSI stocks. For those Mainland #ETF issuers that intend to utilise the Southbound Stock Connect channel, the HSISC can serve to be the alternative version of the HSI, tailored to gauge these Southbound-eligible Hong Kong blue-chips. Read the full details with publication date 11 Jun 2024 here: https://lnkd.in/gfwpDZMV #HangSengIndexes #HSI #mainland #southbound

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【ESG News】Global Trends Biweekly Newsletter Issue 12 (2024.7.15-2024.7.26) Hong Kong China ESG trends: HKSAR Government Launches HK$25 Billion Green Bond Offering Source: HKMA (https://lnkd.in/gcUcUH73) International ESG trends: ESMA Recommends Sustainability Disclosure Requirements for All Financial Products Source: ESG Today (https://lnkd.in/dMGTwFDR) UK Government Confirms 2% Sustainable Aviation Fuel Requirement Beginning 2025 Source: ESG Today (https://lnkd.in/dYKcE3Ct) Mainland China ESG trends: China plans low-carbon upgrades for coal power sector Source: Reuters (https://lnkd.in/gbGFmnpR.) Five departments issued the "Electrolytic Aluminum Industry Energy Saving and Carbon Reduction Special Action Plan" Source：Securities Times (https://lnkd.in/gd-pkubH) China sets green targets for data centers Source：Xinhua (https://lnkd.in/gQ2AgnZm) For our full newsletter, please visit: https://lnkd.in/gmXcd9va #ESG #ESGinvesting #sustainableinvesting #sustainablefinance #sustainability #green #ESGbonds

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📢 SFC Publishes Annual Report on Hong Kong’s Asset and Wealth Management Industry 📢   On Friday 12th July 2024, the SFC published its annual Asset and Wealth Management Activities Survey (“AWMS”) for the year 2023.   The AWMS is one of the SFC’s initiatives aimed at obtaining comprehensive data from industry participants on areas such as assets under management (“AUM”), client demographics, investment strategies, geographical allocations, and other key metrics relevant for its regulatory oversight and market analysis purposes.   A summary of the key highlights and metrics within the published AWMS include:   ✅ In 2023, despite high interest rates, Hong Kong's asset and wealth management sector's AUM grew by 2.1% to HK$31,193 billion, and net fund inflows jumped 342% to HK$389 billion, largely driven by private banking and wealth management.   ✅ Hong Kong remains a trusted hub for international investors, with a geographically diverse investor base. International investors (outside of Hong Kong and Mainland China) have consistently accounted for 54-56% of the total assets under management.   ✅ The total number of SFC Licensed Corporations increased by 3% on the previous reporting year.   ✅ Asset managers in Hong Kong demonstrated a solid record of global asset allocation, with 60% of the assets managed being invested in other markets outside of Mainland China and Hong Kong.   ✅ Hong Kong-domiciled SFC-authorized funds saw net fund inflows growing by 93% year-on-year to HK$87 billion in 2023. In sustained momentum, HK$33 billion in net inflows in Q1 2024 was recorded, alongside a 5% increase in AUM in 2023 and a further 3% increase by Q1 2024.   ✅ Mainland China-related firms in asset and wealth management saw their AUM grow by 4% to HK$2,676 billion. These firms also experienced a 16% increase in net fund inflows to HK$153 billion and a 2% growth in staff headcount.   ✅ Driven by Hong Kong’s corporate fund structure and government grants, the number of registered open-ended fund companies (“OFCs”) increased by 118%. SFC-authorised ESG Funds also saw a 20% growth.   For more information, the full AWMS report can be accessed via https://lnkd.in/gsbvBa4j   Feel free to contact us via [email protected] if you have any questions.   #HongKong #SFC #AssetManagement #WealthManagement #Report

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Hong Kong Exchanges and Clearing Limited (HKEX)’s strategy to help global clients navigate challenges and opportunities in Hong Kong and Mainland markets Read the full artcle: https://bit.ly/3UqlQiq At Sibos 2024 in Beijing, Tae Seok Clement Yoo, managing director of global client development at HKEX, shared insights into how HKEX Group is addressing the evolving dynamics of China's mainland markets. In a landscape shaped by recent government stimulus measures and technological advancements, Yoo outlined HKEX’s strategies to tackle settlement challenges, attract global investors, and enhance cross-border trading infrastructure. The T+0 settlement cycle in China's mainland markets, primarily the Shanghai and Shenzhen stock exchanges, presents both opportunities and challenges, particularly for international investors who are accustomed to the longer cycles of T+2 or T+1. This shortened settlement timeline requires efficient clearing and settlement processes, a critical factor for maintaining investor confidence and mitigating counterparty risks in a fast-paced trading environment. Yoo highlighted that one of the key concerns among investors is the ability to meet settlement requirements within a constrained time frame. HKEX has introduced technological solutions to address these concerns, including its Synapse platform, which improves operational efficiency and enhances the clearing process. This platform was launched to support market participants in coping with the operational challenges of T+0, such as pre-trade checks, settlement accuracy, and exception handling within a shorter window of time. John Hsu, Jacky Mak, Elzio Barreto Foo Boon Ping 胡文彬, Cindy Yu, Eunice Foong, Chris Kapfer, Ruoxin Qi, TAB Global #Sibos2024 #TaeYoo #HKEX #ShanghaiStockExchange #ShenzhenStockExchange #StockConnect #SwapConnect #SynapsePlatform #GlobalClientDevelopment #CrossBorderTrading #FinancialTechnology #T0Settlement #MainlandMarkets #OrionDerivativesPlatform #ChinaCapitalMarkets #TheAsianBanker #TABGlobal

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【Empowering Secure and Agile Home Workstations for Business Continuity】 In light of the new arrangements made by the Hong Kong Exchanges and Clearing Limited (HKEX) to maintain market operations during severe weather, the securities industry is focused on ensuring smooth and compliant remote working capabilities for staff. HKT, HKCOMPUTER NET, Prosynergy, and Hundsun Ayers recently co-hosted a seminar addressing these needs. The event featured insights from a former Securities and Futures Commission (SFC) regulator on the new HKEX arrangements, and showcased how cloud and AI-powered work-from-home solutions, including business communications and collaboration tools, can enable staff to create flexible and compliant remote workstations at home. HKT is committed to leveraging AI-powered comprehensive solutions to empower businesses to enhance their competitiveness and drive digital transformation. Contact us to discover the latest technologies and tailor a solution for your organisation: https://bit.ly/3SCCies #HKTEnterpriseSolutions #DigitalTransformation #HKTPoweredAI

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"There are notable differences across various economies in terms of central bank digital currency (CBDC) technology develoment approaches, standards, and protocols, leading to issues of fragmentation and the creation of 'data silos'," said WEN YANG, President of Swift China, in a recent interview with 21st Century Business Herald. He highlighted the presence of interoperability challenges among diverse CBDC systems in the cross-border sector. In recent years, CBDC has been at the forefront of advancements in cross-border and international settlements, garnering growing attention from the global community. Data indicates that more than 130 economies are currently exploring CBDCs, with almost 70% of central banks planning to launch their own CBDCs in the coming decade. Interoperability plays a vital role in cross-border CBDC transactions. Yang explained that SWIFT has launched the second phase of CBDC sandbox trials in July 2023, delving into more intricate scenarios, involving CBDC payments and settlements in digital trade, digitized assets, and foreign exchange networks. Read: https://lnkd.in/g88VsQfd

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🎖 Benchmark MPF Awards 2023 🎖 Congratulations to the winners of the Benchmark Fund of the Year Awards as we celebrate Benchmark Hong Kong's 20th anniversary!  This is also the year we co-organize the award with the most disruptive Sustainability and Qualitative analytic platform, BlueOnion, as a co-organizer with WealthAsia Media.  The Awards represented a meticulous, methodical process.     Benchmark defines the competition by three distinct groups of stakeholders: Investment Management, Trustee, and Sponsors, all performing specific functions to serve the members of their schemes.    BCT Group ("BCT") is named Trustee of the Year at the Benchmark MPF Awards 2023. Benchmark recognizes BCT’s exceptional governance through its commitment to robust risk management and proactive engagement with members. Their innovative mobile app enhances user experience, and their focus on strong investment performance reflects a dedication to member interests.   BCT Group - BCT Financial Ltd & Bank Consortium Trust Co Ltd #trusteeoftheyear2023   HSBC won the highest score for Investment Manager and is named Investment Manager of the Year at the Benchmark MPF Awards 2023, with the highest winning ratios in qualitative and quantitative categories. HSBC was recognized for its strong commitment to good governance practices as a trustee. They engage with underperforming companies to drive improvement and integrate ESG considerations. HSBC MPF offers excellent member education through public workshops and forums, and consistently delivers strong investment performance at low cost.  HSBC #HSBCpensions #investmentmanageroftheyear2023   Sun Life Hong Kong ("Sun Life") is named Sponsor of the Year at the Benchmark MPF Awards 2023. Sun Life demonstrated significant advancements in technology, enhancing member and employer engagement through diverse information and interaction options. Their consistent recognition in industry awards highlights their commitment to excellence and customer satisfaction.  Sun Life #sponsoroftheyear2023 #benchmarkMPFaward2023

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HKEX to Digitalise ETP Servicing Capabilities with Online Platform Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Tuesday) plans to digitise and automate the in-kind creation and redemption process for relevant exchange-traded products (ETP) in 2025 through the adoption of a web-based platform, subject to technical readiness and regulatory approval. This platform will be integrated into the ETP creation and redemption process, connecting key ETP participants with the use of Distributed Ledger Technology (DLT) and smart contracts, and will help increase overall ETP market efficiency, supporting the continued growth of secondary market activity for ETPs. This latest enhancement is part of the Group's ongoing commitment to further elevate the attractiveness and competitiveness of its international ETP ecosystem, replacing several manual, paper-based processes currently present with a goal to simplify the creation and redemption procedures of ETPs and boost market activity. #ETF #StockConnect #HKEX #HongKong #ETP

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HKEX SIGNS COOPERATION AGREEMENT WITH SZSE TO SUPPORT INTEGRATED FUND PLATFORM DEVELOPMENT Hong Kong Exchanges and Clearing Limited (HKEX) is today (Thursday) pleased to announce that it has signed a cooperation agreement with a unit of Shenzhen Stock Exchange (SZSE), to support the development of HKEX's Integrated Fund Platform (IFP). This cooperation will see Shenzhen Securities Communication Co. Ltd (SSCC) establish the Financial Data Exchange Platform (FDEP) Network in Hong Kong. The network will serve as a foundation for the IFP's Communications Network, which will allow users of the IFP to communicate effectively and support key processes such as subscriptions, redemptions and notifications. The IFP under development is a platform that will support the entire fund value chain and overall ecosystem in Hong Kong, aiming to reduce barriers of entry to the industry and enable market participants to more effectively distribute fund products to their clients. It will also help to expand Hong Kong's fund distribution network, enhance market efficiency and lower transaction costs. #HKEX #SZSE #fund

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【#MPFANews MPFA welcomes Chief Executive's 2024 Policy Address】 #MPFA welcomes the Chief Executive's announcement of the implementation of "full portability" of #MPF benefits in the 2024 Policy Address, and that it is tasked to work out the implementation details. MPFA Chairman Mrs Ayesha Macpherson Lau said, "I welcome the Chief Executive's announcement of the implementation of 'full portability' of MPF benefits. This initiative will enhance employees' autonomy in transferring accrued benefits derived from their employers' mandatory contributions to a scheme of their choice, and support the working population to more actively manage their MPF investment. It will also foster more competition in the MPF market, driving MPF trustees to reduce fees further and enhance fund performance and service quality to provide better retirement protection for the working population." Mrs Lau also welcomed the Chief Executive's reiteration of the abolition of the arrangement of using the accrued benefits of employers' mandatory contributions under the MPF System to offset severance payment and long service payment on 1 May next year. This measure is a significant step forward in strengthening the retirement reserves of the working population and enhancing the MPF System. Together with the full operation of the #eMPF Platform by the end of 2025, these two major reforms will lay a crucial foundation to support the implementation of "full portability" of MPF benefits. Mrs Lau thanked the SAR Government for its support and stressed that the MPFA will continue to drive various reform measures to improve the operation of the MPF System to achieve the vision of "MPF of the People, for the People". MPFA will fully support the Government in working out the implementation details of "full portability" of MPF benefits. Click here for the press release: https://lnkd.in/gVra3cPE #MPFANews #MPFA #MPF #eMPF #FullPortability #PolicyAddress

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The HKMA is pleased to welcome three new members to the Ensemble Architecture Community (AC) from J.P. Morgan Chase, National Association, R3 and WeBank Technology Services, which will support our efforts to establish interoperability standards for wholesale Central Bank Digital Currencies (CBDCs), tokenised deposits, and tokenised assets. The new members bring a wealth of business and technical expertise in tokenisation and various distributed ledger technology infrastructures. Their contributions will be instrumental in advancing the Ensemble Sandbox. The HKMA is also broadening the scope of its experimentation with fixed income and investment fund tokenisation use cases with four additional participants, including China Construction Bank (Asia), Fubon Bank (Hong Kong) Limited, JETCO and OSL Digital Securities Limited. Each participant offers unique insights from diverse areas of the financial and technology industries. Click here for more information on the new members and Ensemble use cases: https://lnkd.in/gqj6D7Yz #HKMA #ProjectEnsemble #Tokenisation #TokenisingTogetherTodayAndTomorrow

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At the welcome dinner of the Global Prosperity Summit 2024 in Hong Kong on May 13th, Matrixport Co-Founder Mr. Jihan Wu and Hong Kong Chief Executive Mr. John Lee delved into recent advancements in the global digital asset industry. They also discussed the significance of Hong Kong's regulatory framework in shaping global digital asset governance. Matrixport affirmed its commitment to bolstering investment in Hong Kong, leveraging the city's talent and financial ecosystem. The Chief Executive expressed encouragement for the Matrixport’s advancement of the digital asset industry in Hong Kong, attracting and nurturing #talents. He emphasized that Hong Kong will continue to build a more robust and complete digital asset ecosystem and attract more creative and competitive digital asset firms to develop and grow in Hong Kong. #hongkong #digitalasset

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The HKMA has released the Sustainability Report 2023, outlining measures taken to strengthen banks’ climate resilience, enhance the green and sustainable finance ecosystem, invest responsibly and move forward as a sustainable organisation. The Report highlights our dedication to advancing the sustainability agenda, leveraging our roles as a bank supervisor, market facilitator, responsible investor, and a sustainable organisation. Read the Sustainability Report to learn more: https://lnkd.in/g7vWrAtV Access the HKMA Annual Report 2023 for additional insights: https://lnkd.in/gEwH9BJG #Sustainability #GreenFinance #ClimateChange #ESG #ClimateGoals

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