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MPF advantageous to HK's financial services sector
The Government is committed to meet and will continue to meet the ongoing challenge of maintaining Hong Kong's leading position as an international financial centre, the Secretary for Financial Services, Mr Rafael Hui, said today (Wednesday).
Speaking at a motion debate in the Legislative Council, Mr Hui reiterated the very advantageous 'side effect' of the Mandatory Provident Fund (MPF) Scheme where Hong Kong's financial services sector would be given a timely and invaluable boost on the establishment of the Scheme.
The potential benefits to the Hong Kong debt market, fund management and associated sectors and the economic activities so generated were obvious and this was indeed a very substantial and tangible gain for Hong Kong's status as an international financial centre, Mr Hui said.
He urged members who had already indicated their support for MPF and those who had not decided and those who were previously opposed to it to reconsider.
Mr Hui emphasised that a rejection of the MPF proposal would deprive Hong Kong of an invaluable opportunity to enhance its position in an increasingly competitive world.
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