• Mon
  • Dec 22, 2014
  • Updated: 4:34pm

Financial Services Development Council

Financial services body vows to be industry voice

Laura Cha Shih May-lung. Photo: David Wong

The 22-member council, a semi-official organisation initiated by Chief Executive Leung Chun-ying, aims to promote the city's financial sector around the world, but its establishment has drawn criticism that its functions either overlap with or are carried out by other promotional bodies.

Saturday, 9 March, 2013, 5:15am

Sad awakening as one man sees communists everywhere

Walking the Great Wall.

I had a chat with a young editor recently. It was a sad awakening. The chat started with a question about the overwhelmingly hostile media coverage on the establishment of the Financial Services Development Council last month.

23 Feb 2013 - 3:16am 9 comments

Council chief pledges to let lawmakers look into body's books

Laura Cha Shih May-lung

The controversial Financial Services Development Council has promised to represent small financial players and allow lawmakers to review its financial statements in a move to ensure transparency.

The 22-member council, the brainchild of Chief Executive Leung Chun-ying, was set up two weeks ago to promote the financial industry.

5 Feb 2013 - 5:22am

Facile criticism of financial body

Executive Councillor Laura Cha meet the media after the first meeting of Hong Kong's new Financial Services Development Council. Photo: David Wong

I refer to Jake van der Kamp's column ("Five points to ponder … over dinner in a fine restaurant", January 27) and various media reports about the Financial Services Development Council of which I am a member.

3 Feb 2013 - 6:50am

Hong Kong Financial Services Development Council gets Chicago backing

Executive Councillor Laura Cha (centre) has found unexpected support for the financial services panel she is heading. Photo: David Wong

The beleaguered Financial Services Development Council yesterday found an unexpected ally - all the way from Chicago.

The 22-member council, a brainchild of Chief Executive Leung Chun-ying, was set up two weeks ago to promote the city's financial industry. It is headed by Executive Council member Laura Cha Shih May-lung.

30 Jan 2013 - 4:40am

A critical review of the financial development council's study

Jeanne Lee Sai-yin (left); Executive Councillor Laura Cha meet the media after the first meeting of Hong Kong's new Financial Services Development Council in government headquarters in Tamar. Photo: David Wong

During their brainstorming, the [financial services development] council defined five areas of study, according to the council chairwoman. These include finding opportunities in the mainland, promoting the financial services industry overseas, training talent, further developing the financial sector and encouraging new and innovative businesses.

SCMP, January 23

27 Jan 2013 - 1:51am 1 comment

FSDC vows transparency in first meeting

Executive Councillor Laura Cha (right) presides over the meeting at the government offices in Admiralty. Photo: David Wong

The controversial Financial Services Development Council, which held its first meeting yesterday, said it would not operate "in the dark" and would be transparent as it promoted the city's financial sector around the world.

Set up last Thursday, Chief Executive Leung Chun-ying's brainchild aims to promote the city's financial industry and its links with the mainland.

23 Jan 2013 - 4:17am 1 comment

Hong Kong must be watchful of city's growing bureaucracy

Chief Executive Leung Chun-ying. Photo: Sam Tsang

Concerns have been raised after Chief Executive Leung Chun-ying announced the creation of yet two more high-level committees during his policy address. The establishment of the Financial Services Development Council and the Economic Development Commission brought the number of new and revamped bodies to 16 since he took office.

23 Jan 2013 - 3:44am 3 comments

FSDC defines role amid public doubts

Laura Cha Shih May-lung. Photo: Nora Tam

The newly established Financial Services Development Council held its first meeting on Tuesday after which it announced that it has identified five areas to study.

22 Jan 2013 - 7:38pm

Taxpayer cash proposed to fund new financial services development body

Chief Executive Leung Chun-ying. Photo: Sam Tsang

Lawmakers have suggested the newly created Financial Services Development Council could consider applying for taxpayers' money to fund its operations in a bid to quell public doubts over its role and transparency.

22 Jan 2013 - 4:20am 1 comment

Money matters first for new finance body

Hong Kong could not copy the funding model of City of London.

The new Financial Services Development Council is already mired in controversy, including the central question of who is going to pay its bills and other expenses.

The council has not decided how to finance itself over the long term even though it is going to have its first meeting tomorrow.

22 Jan 2013 - 4:09am

Hong Kong's graft laws apply to Zhu Rongji's son and other members of new body

Laura Cha Shih May-lung. Photo: Nora Tam

The son of former premier Zhu Rongji and other financial heavyweights appointed to the new Financial Services Development Council will be subject to the city's anti-corruption laws as if they were public officials.

19 Jan 2013 - 7:40am 1 comment

For new mainland elite, Hong Kong's financial future is personal

Seats at the table

In 2009, a group of mainland financial professionals in Hong Kong put their names to an opinion piece calling for a new government entity to beef up and promote our financial market. Nobody listened.

They pushed on. They talked to officials and Leung Chun-ying, who was then tipped to make a run for the top job. They started a column in a financial daily to make their views known.

19 Jan 2013 - 5:12am 4 comments

New advisory body aims to promote financial services

Financial Services Development Council chairwoman Laura Cha Shih May-lung. Photo: Nora Tam

Newly-appointed head of the Financial Services Development Council Laura Cha Shih May-lung said on Friday the advisory body would not be interfering in areas traditionally handled by the Hong Kong Monetary Authority (HKMA).

“The [authority] does promotional work too. But we are not a government body,” she explained.

22 Jan 2013 - 7:35pm

A new financial council won't take us anywhere

Chief Executive Leung Chun-Ying says he will establish the Financial Services Development Council immediately. Photo: Xinhua

I want to sit on the Financial Services Development Council. Yum-yum-yum. Rarely in the history of mankind will any group of people be able to dine so well and so often as this bunch will, both at home and around the world, in their pursuit of financial development. I look forward to a new gastronomes' Bible.

17 Jan 2013 - 4:50am 1 comment

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