During a visit to the Securities and Futures Commission (SFC) this week, Hong Kong's Financial Secretary, Antony Leung, spoke of Hong Kong's development as a premier international financial centre as one of his top priorities.
Mr Leung highlighted the vital role that the SFC must play 'in supporting the continued development of Hong Kong's securities and futures markets by ensuring that they are open, fair, efficient, transparent and meet international standards.' He added: 'Only such a market can gain the confidence of international investors.'
He noted that the Steering Committee on the Enhancement of Financial Infrastructure, chaired by Mr Sheng - also chairman of the SFC - is working full steam towards the goals of straight-through processing, scripless trading and single clearing arrangements with the building of a robust, efficient and secure network within the financial sector in Hong Kong known as FinNet.
Mr Leung called upon the SFC, HKEx, the securities industry and the business sector to 'work closely together on market development issues' with the government. He pledged to pay particular attention to 'leveraging the growing economic strength of the mainland, as well as promoting the interest of retail investors.'
And he praised the SFC on its commitment and devotion of substantial resources in support of recent regulatory reform and noted that the government and the SFC were working intensively with the Legislative Council's Bills Committee on the Securities and Futures Bill seeking to enhance investors protection and market development. 'We shall continue to accord top priority to facilitate legislators' deliberations to ensure early enactment of this important piece of legislation,' he said.
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