The regulators help protect the financial system from risk - but who focuses on its returns? The Financial Services Development Council (FSDC) represents the closest thing to an investment promotion agency. Our research finds that it should become a statutory body, with clear administrative goals, powers and accountability. Photo: Bloomberg

Hong Kong needs financial reform to weather future financial crises and regain its lost lustre

Legislators' marginal tinkering has led to steady deterioration of city's status in world banking

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The regulators help protect the financial system from risk - but who focuses on its returns? The Financial Services Development Council (FSDC) represents the closest thing to an investment promotion agency. Our research finds that it should become a statutory body, with clear administrative goals, powers and accountability. Photo: Bloomberg
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