Investor and Financial Education Council unveils Financial Literacy Strategy 2019

17 January 2019

The Investor and Financial Education Council (IFEC) today announced the Financial Literacy Strategy 2019 that is underpinned by promoting awareness, advocacy and collaboration of quality financial education to help improve the financial literacy level and well-being of the Hong Kong people.

In November 2015, the inaugural Financial Literacy Strategy (Hong Kong Strategy for Financial Literacy 2015) was launched following a public consultation, feedback from a series of stakeholder workshops, international benchmarks and best practices, and with the support of the private, public and social sectors.

The Financial Literacy Strategy incorporates key learnings from the inaugural strategy, with emphasis on building a conducive environment for raising public awareness of the benefits of financial education and advocacy among stakeholders. Collaboration among stakeholders continues to be a core focus as Hong Kong's social and economic environment evolves, thus requiring more active involvement and financial education interventions from various stakeholders.

Speaking at the launch ceremony today, the Financial Secretary, Mr Paul Chan, said, "Today's financial market is endlessly changing and complex, with technology increasingly driving financial innovation. At the same time, such societal changes as increased longevity have brought about new considerations and needs in financial planning, at both the individual and the community levels. In short, people today must be equipped with the relevant knowledge to make informed financial choices under rapidly changing socio-economic circumstances."

"The Investor and Financial Education Council has the full support of the Government. A financially informed public can make a difference for all of us."

Chairman of the IFEC, Mr Lester Huang said, "The Financial Literacy Strategy sets out the blueprint of financial education work in Hong Kong and pinpoints the socio-economic issues that could be relieved through tailored and comprehensive support provided to the investors and different groups of people."

"The Investor Education Centre has been renamed as the Investor and Financial Education Council to underscore our commitment to financial education. IFEC will take the lead on the implementation of the Strategy by working with all the different stakeholders."

Click here to learn more about the Financial Literacy Strategy.

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