Chart 7
400
Chart 8
Chart 9
RM8 Billion
HK$ Billion
HK$ Billion
300
Total NAV of MPF Assets
265
200
209
100
309
0
2007
2008
2009
2010
Year
210
365
Annual Gross Premiums of Insurance Market
200
197
190
180
185
189
170
2007
2008
2009
2010
Year
400
300
200
RMB Deposits in Hong Kong
100 -
63
33
56
0
2007
2008
2009
2010
Year
315
207*
Financial and Monetary Affairs | 71
Net asset values (NAV) of Mandatory Provident Fund (MPF) schemes topped $365 billion at the end of 2010 with an annualised internal rate of return of 5.5 per cent since its inception in 2000.
Staying the course as one of the most open insurance markets in the world, Hong Kong's insurance market recorded a major rebound to $207* billion in total gross premiums in 2010, representing an increase of 11.6 per cent over 2009.
During 2010, Hong Kong recorded significant growth in offshore RMB business. At the end of 2010, the outstanding RMB deposits in Hong Kong totalled RMB 315 billion.
Hong Kong as China's Global Financial Centre
Overview
Hong Kong's role as China's global financial centre is based on its unique status as the only place in the world where a strong connection with the Mainland market meets a world-class business environment. On one hand, Hong Kong enjoys extensive geographical, cultural and linguistic links with the Mainland, and has long served the financial needs of the Mainland as its markets continue to open. On the other hand, Hong Kong has a favourable geographical location, bridging the time gap between New York and London; strong links with the entire Asia-Pacific region and excellent communication with the rest of the world; the rule of law; a level playing field for conducting business and a sound regulatory regime. The absence of restrictions on capital flows into and out of Hong Kong is another advantage.
Hong Kong's financial markets are highly liquid. They operate under effective and transparent regulations, which are in line with international standards. A highly
*
Provisional Statistics
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