This photo shows a view of the commercial buildings in the Central district of Hong Kong on March 22, 2021.
(ANTHONY WALLACE / AFP)
A majority of financial practitioners and students in Hong Kong are optimistic about the prospects of the city’s financial services industry, according to the latest Financial Services Development Council survey.
About 56% of the industry practitioners and 58% of the tertiary institution students surveyed have a favorable outlook of Hong Kong’s financial services industry over the next three years, according to a survey by the Financial Services Development Council
About 56 percent of the industry practitioners and 58 percent of the tertiary institution students surveyed have a favorable outlook of Hong Kong’s financial services industry over the next three years, according to the survey, which was released on Monday.
The council interviewed 400 industry practitioners and tertiary institution students to assess how attractive Hong Kong’s financial services industry is to them.
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The outbreak of the coronavirus pandemic, the ongoing trend of digitalization, geopolitical uncertainty, and changing customer perceptions all are driving financial institutions to rethink their business models and priorities, the council said. Against this backdrop, financial technology and ESG (environmental, social and governance) business operation standards are becoming the top priority of various Hong Kong stakeholders and market participants, it said.
To facilitate fintech and ESG development in the city, the council proposed providing subsidies to Hong Kong professionals for taking internships overseas or on the Chinese mainland. It also suggested that private fintech companies take part in the development and application of applicable courses. Social and governance courses should be introduced as compulsory subjects in finance-related disciplines, it added.
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When asked about the impact of the city’s potential migration wave on financial talent, FSDC Executive Director King Au acknowledged that the matter is a cause for concern in the short term, but believes risks and opportunities coexist and can create opportunities for practitioners who wish to develop in the city.
suzihan@chinadailyhk.com