World Investor Week 2022 commences to enhance investor resilience and confidence
3 October 2022
- Virtual assets have attracted the attention among the young generation, with nearly one in four expressing interest in investing in virtual assets in the next 12 months
- To kick off the World Investor Week 2022, IFEC joins hands with FSTB and SFC today to host a webinar on regulations and investor protection on virtual assets
- IFEC launches a series of investor education initiatives in a bid to help strengthen investors’ resilience and call for the public to take action and participate
Virtual asset investment activities have been developing rapidly in recent years. The IFEC examined the awareness and appetite of virtual assets among the Hong Kong public in its latest survey on personal finance conducted in April to May 2022. As many as 72% of the surveyed respondents said they were aware of virtual assets including cryptocurrencies and non-fungible tokens (NFT). Awareness was highest among the young generation, with majority (95%) of the surveyed young working adults aged 18 to 29 said they were aware of virtual assets.
The study also revealed that some respondents plan to invest in virtual assets, with one in eleven (9%) expressing interest in holding virtual assets in the next 12 months, and 4% saying they had held virtual assets in the past 12 months.
Virtual assets have attracted the attention among the young generation
Young generation have a stronger interest in virtual assets, with nearly one in four (23%) surveyed young working adults expressing interest in holding virtual assets in the next 12 months. The survey also revealed that 8% of the group were holding virtual assets in the past 12 months, twice the level of penetration among all respondents.
IFEC Chairman Mr Victor Dawes said, “The study revealed that the public, particularly young generation, have a strong interest in virtual assets. While virtual assets are highly volatile and may not be regulated, retail investors may not fully understand the features and risks associated. As such, IFEC will continue to promote investor education on virtual assets to enhance the public’s understanding of the emerging investment trends and risks, as well as to equip them with the right attitude to make informed financial decisions.”
World Investor Week 2022 commences this week
World Investor Week 2022, an initiative of the International Organization of Securities Commissions (IOSCO), commences on 3 October 2022 with a theme on enhancing investor resilience and deepening investors’ understanding of virtual assets and green and sustainable finance. IFEC is collaborating with relevant stakeholders to offer a range of resources and initiatives aimed at supporting Hong Kong retail investors on enhancing investment knowledge.
To kick off the World Investor Week 2022 today, IFEC is joining hands with the Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) to host a Facebook webinar on regulations and investor protection on virtual assets, featuring Mr Christopher Hui, Secretary for Financial Services and the Treasury and Ms Julia Leung, Deputy Chief Executive Officer and Executive Director, Intermediaries of the SFC.
Highlights of IFEC initiatives in support of World Investor Week 2022
- Webinar co-hosted with CFA Institute and CFA Society Hong Kong on 6 October to discuss attitude and behaviour when facing investment adversities. Mr Joseph Chan, Under Secretary for Financial Services and the Treasury and representatives from the financial and academic sectors are invited as speakers.
- Strike the Gong for Financial Literacy ceremony, a co-organised event with the Hong Kong Exchanges and Clearing Limited will be held on 21 October. IFEC Chairman Mr Victor Dawes will deliver a speech on investor education on green and sustainable finance.
- Dedicated World Investor Week 2022 portal with a series of investor and financial education initiatives and resources covering investor resilience, green and sustainable finance and virtual assets. The portal also provides details on activities organised by the IFEC and various stakeholders. Click here to view the portal.
IFEC General Manager Ms Dora Li said, “Against the challenging economic and financial markets backdrop, investors should stay vigilant on the uncertainties arising from inflationary pressure, interest rate hikes and economic challenges. Investors are advised to conduct comprehensive research before making investment decisions to ensure that they are well informed of all aspects of the investment products and the market risks involved. IFEC will continue to collaborate with relevant stakeholders to educate the public with investment knowledge and competencies required to help enhance their financial resilience.”
