”Despite the macroeconomics changes in 2023, Hong Kong has remained resilient in the asset management industry.” The executive of investment product of Securities and Exchange Commissions, Choi pointed out.
SFC has set out the three year priority strategy last week, focusing on maintaining market resilience, enhancing the appeal of the city’s capital markets, improving operational efficiency, leading financial transformation via technology and ESG ( environmental, social, and governmental factors ). The SFC is ambitious in developing cross border scheme with mainland in the wealth management fund and working with middle East market. Choi emphasizes on the ESG areas of funds as ‘tackle potential greenwashing’ of regulations for retail funds of naming and marketing ESG funds.
SFC has been taking the disclosure approach – asking funds managers their yearly ESG goal attaining and assessed, monitored the disclosure.
Original news report from South China Morning Post.