Economic encounter: Secretary for Financial Services & the Treasury Frederick Ma meets Indonesia's Finance Minister Dr Boediono to discuss the latest economic and financial developments.

Secretary for Financial Services & the Treasury Frederick Ma kicked-off his weeklong trip to Southeast Asia in Indonesia today. He has seven meetings arranged in Jakarta. The weeklong visit also covers Singapore and Malaysia.

Mr Ma's programme on the first day included meetings with leading figures in the financial services and business sectors, government officials and the media, as well as visits to the Jakarta Stock Exchange and Indonesia's central bank.

Mr Ma updated them on Hong Kong's latest developments, particularly in the area of financial services.

He highlighted Hong Kong's strengths as an international financial centre and the premier capital formation centre for the Mainland.

Mr Ma briefed Indonesia's Finance Minister Dr Boediono on Hong Kong's efforts in the development of the local bond market, including the recent successful offering of securitisation bonds backed by the revenues of Government tolled tunnels and bridges as well as the Government's plan to issue bonds in the next few months.

Capital Investment Entrant Scheme highlighted

At the meeting with members of the Indonesian-Chinese Chamber of Commerce, Mr Ma also introduced to them Hong Kong's Capital Investment Entrant Scheme.

Launched last October, the scheme aims at attracting those who are able to make a substantial investment but do not intend to run the businesses themselves under the scheme to make capital investments in Hong Kong.

Anyone who invests in net assets of not less than $6.5 million in specified financial assets and/or real estate is eligible for admission into Hong Kong as a capital investment entrant.

Mr Ma later visited the Jakarta Stock Exchange where he was received by its President Director Erry Firmansyah. Mr Ma also called on the Bank Indonesia Governor.

Tomorrow, Mr Ma will visit the Association of Indonesian Private Banks before flying to Singapore where he will meet with business executives and Committee Members of the HK-Singapore Business Association.