Title

Title

Supporting safe investment through financial education - A Hong Kong Experience 9 Nov 2017 IEC was set up in the aftermath of Lehman Brothers Incident Photo credit: on.cc 2 UNIQUE INVESTING ENVIRONMENT IN HK 3 High penetration of investment products

Incidence of holding/trading any financial products in the past year 48% $ 59% of people made at least one investment in the past year 27% 14% 6%

Stocks Base: Individuals aged 18-70 (N=500) Source: IEC Retail Investor Survey (Aug 2017) Forex Funds Bonds 4 Ageing population & insecurity over retirement 16%

In 2016, of the Hong Kong population was aged 65+ Level of confidence in being financially well-planned for retirement Very confident By 2036, this percentage will grow to 8 27

31% 41 65% 9 Not at all confident Source: Census and Statistics Bureau 15 Source: Source: OECD/INFE International Survey of Adult Financial Literacy Competencies, 2015 5

Most knowledgeable adults in 30-economy comparison but poor attitude on long-term planning score 6 1st Financial knowledge 4 2 0 l

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4 Attitudes towards long-term planning 29th 3 2 1 Base: N = 1,000 individuals aged 18-79 Source: OECD/INFE International Survey of Adult Financial Literacy Competencies, 2015 6 New opportunities and risks to investors

Close ties with Chinas financial markets Mutual market access schemes, e.g. Stock Connect, Mutual Recognition of Funds Fintech (P2P, ECF, ICO, Bitcoin etc) 7 HOW HK IS IMPLEMENTING THE OECD/INFE POLICY FRAMEWORK FOR INVESTOR EDUCATION 8

Cross-sector collaboration Provides resources to the public Drive momentum With emphasis on 3 distinct target groups Improve the populations financial literacy Families Working adults Retirees 9

Embedding investor education in prioritized segment programmes Secondary school students Stock Trading Guru board game workshop New-to-employment working adults Manage My Finance Programme Pre-retirees RetireWise Programme Elderly Health and Wealth Programme 10 Dynamic content and diversified delivery

Facebook Investor Portal Stock Connect Byline articles Video Regular studies & impact assessment Press reporting IECs survey findings Programme evaluation 12 LESSON LEARNT - THE CONSEQUENCE OF

INSUFFICIENT INVESTOR EDUCATION 13 In 2011, after almost three years of an on-going saga, sixteen financial institutions agreed to buy back Lehman's financial products they sold to investors for roughly US$0.81bn. Photo credit: Apple Daily 14 But the emotional turmoil suffered by the investors and the social cost is beyond measurement. Photo credit: Apple Daily 15

Chin Junior Princess Chin Mrs. Chin Mr. Chin Grandma Chin Grandpa Chin Chin Chin 16

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