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The IEC published its first full year annual report 2013-14 themed “Unlocking your Path to Success” which outlined the IEC’s education work in the past year, its ongoing efforts and future initiatives.

"The establishment of the IEC is to raise Hong Kong people’s financial literacy, which is increasingly acknowledged as a vital life skill in today’s world of ever more complex financial markets. Building up financial knowledge and capability is key to achieving life goals in different life stages and can help people unlock their paths to financial success,” said Professor Leonard Cheng, Chairman of the IEC.

Professor Cheng added: “In addition to facilitating personal financial achievement, increased financial literacy is also conducive to maintaining the overall stability and reputation of Hong Kong as an international financial centre."

In the past year, the IEC has grown from a concept into a fully-fledged and well-functioning organisation that is the focal point for financial education in Hong Kong, and has launched its three-year Strategic Plan (2013-2016) to better equip the general public with skills and knowledge to make informed and sound financial decisions. Adopting a research-based approach to identify the financial education needs, the IEC has accomplished a range of education initiatives which included:

  • launching education campaigns with themes ranging from financial planning, money management, investing concepts and financial products to consumer and investor rights and responsibilities;
  • developing the IEC website as a central place for generic and financial information, education resources and interactive tools;
  • tailoring outreach activities to the needs of specific groups within the community;
  • conducting a number of research studies including one on the knowledge, attitudes and behaviour of Hong Kong people towards money and debt management; and
  • participating in international organisations’ activities to review best practices.

"I would like to thank all our stakeholders for their support in helping us complete the groundwork to improve financial literacy in Hong Kong with various initiatives and resources. Looking ahead, we shall continue to enhance our financial education efforts in both breadth and depth and work with more stakeholders from local and abroad for knowledge and experience sharing,’ said Professor Cheng.