In advancing the financial literacy of Hong Kong people, it is important to foster closer communication and collaboration amongst stakeholders. This newsletter serves as a tool to engage the Financial Literacy Strategy 2019 (FL Strategy) supporting organisations and stakeholders through highlighting some of the recent development in financial education (FE) and sharing the approaches to FE by some practitioners.

Financial literacy levels in Hong Kong show improvement and gaps

The latest findings of IFEC’s Financial Literacy Monitor reveal that Hong Kong adults have shown improvement in overall financial literacy levels, bolstered by better financial knowledge and attitude scores compared to four years ago. However, financial behaviour score slipped. The findings point to the need for more financial education efforts among the younger generation and towards driving behavioural change.

Hong Kong Money Month 2020 rescheduled

Hong Kong Money Month 2020, the annual territory-wide financial education campaign originally scheduled for March 2020, had to be rescheduled due to the development of the coronavirus. The IFEC is considering the possibility of launching a campaign in the second half of 2020.

Enrolment of Financial Education Champion 2021 will start in May 2020

The Financial Education Champion 2021 will start enrolment in May 2021. Deadline for submission is 5 July 2020.

Issues of Aging and Financial Inclusion in Hong Kong

The IFEC intends to work with relevant stakeholders to holistically review the issues of aging and financial inclusion of elderly in Hong Kong and recommend preventive and remedial measures.

Financial wellness covered in HKEX's guidance material for ESG reporting

People often relate Environmental, Social and Governance (ESG) reporting to environmental issues only, such as climate change. However, it covers a wider scope and can include issues like the financial wellness of employees and other financial education activities for the community.