Hong Kong Money Month Encourages Public to Plan their Financial Future

1 March 2018

  • Over a hundred representatives from the government, finance, education and non-profit sectors join hands with financial literacy ambassadors to support Money Month and promote widespread financial learning opportunities and events across the Hong Kong territories
  • Launch of a new award 'Financial Education Champion' to recognise providers for their financial education efforts
  • Over 90 events and initiatives will be available to students, working adults, investors, retirees and vulnerable groups to join for free

The Investor Education Centre (IEC) today launched Money Month 2018, a Hong Kong-wide campaign to promote good financial planning and well-being among the Hong Kong public. The launch ceremony was attended and supported by representatives from the Financial Services and the Treasury Bureau, Education Bureau, Hong Kong Monetary Authority, Insurance Authority, Mandatory Provident Fund Schemes Authority, Securities and Futures Commission and many financial education partners.

The Under Secretary for Financial Services and the Treasury, Mr Joseph Chan, said: "Advancing financial education is one of the highlights of the government policy. Equipping individuals with financial literacy skills can help contribute to the overall financial well-being of the community and bring benefits to Hong Kong's economic stability. This requires continued efforts and collaboration across different sectors and stakeholders."

Taking place during the month of March under the theme Plan For Your Future, this annual campaign builds upon the momentum of last year's inaugural Money Month to inspire the public to take action to manage their finances. Money Month 2018 showcases more than 90 events and initiatives from over 30 organisations. Activities will comprise of shopping mall events, financial planning seminars, investment talks, online learning opportunities and contests suitable for the young and elderly, including students, working adults, investors, retirees and vulnerable groups.

Mr T C Chan, Chairman of Hong Kong Strategy for Financial Literacy Steering Committee and IEC Executive Committee Member, said: "Improving financial literacy of the population should be a long-term and collective effort. This is the second year of this territory-wide campaign, and we are delighted with the enthusiasm and valued support from our long-time partners and new supporting organisations."

At the launch ceremony the IEC announced the introduction of the Financial Education Champion award scheme. "This award is intended to recognise supporting organisations who have advanced financial education in Hong Kong, and we want to encourage and attract even more organisations to participate to jointly enhance the impact and reach," said Mr Chan. All HKSFL supporting organisations are eligible to apply for the programme, and the award winners will be announced at a ceremony in the last quarter.

Commenting on the need for more financial education, Dr Kelvin Wong, Chairman of the IEC, said: "IEC has found that many Hong Kong people are ill-prepared to manage their personal savings and investments. When it comes to retirement planning, even those who intend to retire within ten years or less have not given thorough consideration to their retirement funds and planning. We hope that Money Month will raise public awareness of the importance of goal-setting and financial planning to promote good financial habits that will lead to overall financial well-being."

The ceremony was officiated by Mr. Joseph Chan, Under Secretary for Financial Services and the Treasury; Mr Carlson Tong, Chairman of the Securities and Futures Commission; Dr Kelvin Wong, Chairman of the IEC; Mr David Kneebone, General Manager of the IEC and Mr T C Chan, Chairman of HKSFL Steering Committee. It was also fully supported by financial regulators, IEC Executive Committee members, SFC Board members, plus the Steering Committee, Ambassadors and over 100 Supporting Organisations of HKSFL.

Members of the public can visit the Hong Kong Money Month website (www.moneymonth.hk) to make use of the free and comprehensive resources and tools, as well as to register for various events and seminars on money matters to help them plan ahead and achieve their life goals.

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