Budget Speech

Consolidating our Position as a Financial Centre

43.      Since the outbreak of the financial crisis, the global financial industry has been facing great changes. All economies have been seeking a new balance between financial innovation and effective supervision. During this period of global financial change, we must capitalise on our strengths and improve our supervisory framework. This will benefit both Hong Kong and our nation.

44.      Financial services are high value-added industries and are closely inter-related with other professional services. A highly efficient and robust financial industry provides a financing channel for all businesses, increases their competitiveness, and indirectly creates a large number of jobs in other industries. We will seize the moment to improve the efficiency, supervision and transparency of the financial market, strengthen our competitiveness and prepare ourselves for increasing financial co-operation with the Mainland.