IEC publishes annual report: Invest in Your Future. Plan Today

14 June 2017

The Investor Education Centre (IEC) published its Annual Report 2016-17 today.

The report summarises IEC’s performance in advancing financial literacy and reflects our belief that to achieve a better and more secure future, it is imperative to plan today.

"Financial literacy in Hong Kong has never been more important than it is today. The investment landscape has become increasingly complex; our population is ageing; and people are reluctant to plan for their future. As an organisation dedicated to improving financial literacy in Hong Kong, we aim to change the attitudes and behaviours of the public by equipping them with the necessary knowledge and skills to make informed financial decisions," said Dr Kelvin Wong, Chairman of the IEC.

Some key highlights of IEC’s achievements in the past year included:

• The launch of Hong Kong’s inaugural Money Month in February 2017, under the theme "Let’s Talk about Money", to highlight the importance of planning for life goals and to encourage more discussions on money matters among the public
• A Financial Literacy Forum to promote dialogue, collaboration and sharing of best practices with peers and other financial education leaders in Hong Kong and worldwide
• Introducing financial education to the Hong Kong communities via The Chin Family Financial Education Truck to promote good money management habits
• A seminar to enhance understanding of the Mainland-Hong Kong Stock Connect with a survey to gauge investors’ understanding and feedback of the trading platform
• An education campaign Good Debt versus Bad Debt to highlight the importance of responsible borrowing
• Participating in the 30-economy comparison study, the International Survey of Adult Financial Literacy Competencies, coordinated by the OECD International Network of Financial Education and conducting a territory-wide survey to gauge Hong Kong financial literacy levels

Mr David Kneebone, General Manager of the IEC said, "Good progress has been made in terms of improving financial literacy of the Hong Kong population, but we still have a long way to go. People’s unwillingness and inability to plan their finances for the long term and the increasingly dynamic and complex investment landscape are just some of the key challenges that we are faced with. We look forward to providing more support to the vulnerable groups to help them access financial information, and we plan to work with more organisations and stakeholders to collectively raise financial awareness and encourage everyone to plan and achieve for themselves a more financially secure future."

An online version of the annual report is available on the IEC website at www.hkiec.hk.

Photos and captions: