Hello from the new IFEC General Manager
Born and raised in Hong Kong, I am honoured to be appointed as the General Manager of the Investor Financial Education Council (IFEC) to serve people of Hong Kong.
First of all, I would like to thank my predecessor, Mr. David Kneebone, for his leadership during the past six years, leading the IFEC team to enhance financial literacy in Hong Kong with excellent progress.
Hong Kong ranked top in a survey1 among 26 economies conducted in June 2020 by the Organisation for Economic Co-operation and Development (OECD) on financial literacy global studies, achieving top position in the area of financial knowledge, but ranked sixth in behaviour and 14th in attitude.
Results of the IFEC Financial Literacy Monitor 20192 also revealed that although Hong Kong adults had shown improvements in financial knowledge and attitude, behaviour score had dropped, with young working adults (aged below 30) demonstrated difficulties with money and debt management, and only 23% of them were satisfied with their financial status.
In addition, the global COVID-19 pandemic has brought about unprecedented challenges to individuals, families, corporates and governments, with sustaining adverse effects on both the economy and social environment.
This is why I am sharing a photo of myself climbing the Great Wall in Mainland China during a five-day charity trekking challenge with you – the road ahead is steep and rugged.
While we have to admit that financial education will not be the solution to all the problems, helping people on money management become all the more important at this critical time. Your efforts and support are crucial to make positive changes.
Times of crisis can be opportunities for breakthrough progress. I am urging you to support financial literacy enhancement through examples like embedding financial education in your business strategy, enhancing your employees' financial well-being through your HR strategy or, simply sharing IFEC's financial education resources and tips.
I look forward to walking together with you all in this meaningful and fruitful journey to enhance the financial well-being for the people in Hong Kong.
Thanks and regards,