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Export of financial services

According to the statistics released today on Hong Kong's export of services, export of financial services registered an 8.5 per cent growth in 2015 over 2014. This is a remarkable achievement. The statistics also show that export of financial services accounted for 18.4 per cent of the value of total exports of services in 2015. This indicates that the financial sector plays an increasingly important role in Hong Kong and can create more employment opportunities by exporting its services.

During my election campaign in 2012, I proposed in my Manifesto the establishment of a Financial Development Council to enhance the development of the financial industry and promote our financial services outside Hong Kong. I started the preparatory work right after winning the election. Over the past four years or so, the Financial Services Development Council (FSDC) has released 26 reports, making useful recommendations on Hong Kong's financial development.

Apart from appropriate regulations, we also need to promote the development of our financial industry. As I said in this year's Policy Address, "We will continue to provide the FSDC with the necessary resources, and fully support its work... I have therefore decided to request the Hong Kong Trade Development Council to collaborate with the FSDC and the industry to strengthen the promotion of our financial services industry outside Hong Kong."

February 10, 2017