Joseph Chan: 2026-27 FSDC Research to Focus on Four Major Topics, Including Financial Opportunities from Evolving Trade and Investment

Deputy Secretary for Financial Services and the Treasury Joseph Chan delivered a speech at the Legislative Council Panel on Financial Affairs meeting on November 6 on the work of the Financial Services Development Council (FSDC), stating that over the past year, the FSDC has continued to advance its work in policy research, market promotion and talent development, in support of the Government's policy objectives of consolidating, developing and enhancing Hong Kong's advantages and status as an international financial centre. On policy research, the FSDC conducted research in 2025-26 on themes including asset and wealth management, capital market development, and green and sustainable finance. In 2026-27, the FSDC's research will focus on four major topics, including financial opportunities arising from evolving trade and investment, fintech innovation, and capital market development and wealth management. The Government has all along been committed to following up on the policy recommendations put forward by the FSDC, thereby injecting new momentum into the development of Hong Kong's financial industry. For example: The Government will further enhance the preferential tax regimes for funds, single family offices and carried interest, including expanding the scope of the tax exemption regime to cover single investor funds of a certain scale, and covering more qualifying investments such as loans and private credit investments, digital assets, precious metals, etc. Subject to the passage of the relevant amendment bill, the measures can be implemented from the 2025/26 tax year; To further promote the development of real estate investment trusts (REITs), the Government will submit an amendment bill this month to facilitate the privatisation or restructuring of REITs. The Government also plans to submit a bill in the first half of 2027 to provide stamp duty relief for the transfer of non-residential properties by REITs preparing for listing; and The Government is using gold as an entry point to promote the development of the commodities market, with measures including establishing a central clearing and settlement system for gold in Hong Kong to provide efficient and reliable clearing services for international-standard over-the-counter gold trading. The system commenced trial operation in July this year with an ideal market response. The system will be officially launched in the first quarter of next year. A "Joint Working Group on Commodities Trading" led by the Secretary for Financial Services and the Treasury has been established and held its first meeting in September. The Working Group, comprising the Financial Services and the Treasury Bureau together with financial regulators, will comprehensively review market opportunities and cross-exchange cooperation opportunities. On market promotion, the FSDC has actively promoted Hong Kong's unique role as a global financial connector and its thought leadership through local and overseas activities and exchanges. In line with the Government's policy of deepening traditional markets and exploring emerging markets, the FSDC has continued to expand cooperation with local and overseas partners through the signing of memoranda of understanding, launched a global market promotion video series that recorded over 50 million views, and organised market development cooperation programmes inviting stakeholders from ASEAN (Association of Southeast Asian Nations) and the Middle East to Hong Kong for exchanges. The FSDC's achievements are evident to all. Talent development is crucial to consolidating and enhancing Hong Kong's own advantages. In this regard, the FSDC continues to hold its annual flagship talent event, Talent Day, to promote interaction and exchange between the new generation and industry leaders and nurture future financial professionals. In addition, as announced by the Chief Executive in the 2026 Policy Address, the FSDC will launch a two-year "Financial Services Industry Youth Internship Programme", working with the industry to provide 1,000 youth internship positions related to financial services to help young people with employment and development. On the other hand, the Hong Kong Academy for Wealth Legacy, established under the FSDC, has continued to advance its work around its six "legacy development goals" with fruitful results. As a strategic philanthropy platform, the Academy has coordinated family donations of public art installations through the ImpactLink (iLink) project to promote cultural preservation and innovation, and launched the iLink online portal connecting dozens of families with philanthropic projects to provide philanthropic decision-making support. As a knowledge partner, the Academy has organised overseas trips for new-generation family members to exchange experience with global families and scholars on family governance, succession training and long-term capital deployment, and to tell Hong Kong's family stories well to the world.