Financial Services & the Treasury
The Financial Services & the Treasury Bureau works closely with market regulators and participants to strengthen Hong Kong's role as an international financial centre. The Treasury formulates and implements policies and procedures to ensure effective control and management of public revenues and expenditure.
Financial Secretary
The Financial Secretary's primary responsibility is to assist the Chief Executive in overseeing policy formulation and implementation in financial, monetary, economic, trade and employment matters.
Financial Secretary John Tsang expects four million people to benefit from the proposal to inject $6,000 into each Mandatory Provident Fund account, adding teachers under the Grant Schools Provident Fund and Subsidised Schools Provident Fund schemes are also covered.
Speaking to reporters after a forum held by the Federation of Youth Groups this evening, he said the proposed measure will offer better retirement protection to beneficiaries.
Funds will be injected into the MPF accounts of people who were members of MPF schemes or occupational retirement schemes covered by the Employment Ordinance on or before February 23.
The Financial Services & the Treasury Bureau said the Government has earmarked $24 billion for the measure. Implementation details will be announced later.
