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Hong Kong Government Predicts Growth In Asset Management Industry

by Mary Swire, Tax-News.com, Hong Kong

30 November 2005


Secretary for Financial Services and The Treasury, Frederick Ma says Hong Kong's financial market development will lie in the asset management industry.

In the bureau's latest website column 'FSTB & You,' Mr Ma said that mainland authorities are progressively allowing funds and institutions, such as insurance companies and the National Social Security Fund, to invest overseas.

Mr Ma observed that: "The evolution of the Mainland's financial system is beneficial to the development of our asset management industry. The Government and the market must continue to strengthen our edges to re-inforce our position as an international financial centre."

Mr Ma added that Hong Kong can attract huge global capital to invest in large-scale fund-raising activities.

"Hong Kong possesses many advantages unparalleled in other jurisdictions in attracting Mainland enterprises to seek a listing here. We will keep up our efforts in various areas so as to maintain Hong Kong's competitiveness in financial services," he stated.


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