The Hong Kong Investment Corporation’s (HKIC) board of directors had an in-depth discussion on a number of issues at its first meeting today, covering the HKIC’s corporate structure, governance, personnel arrangement as well as administration and management.
In the 2022 Policy Address, the Chief Executive announced the establishment of the corporation to further optimise the use of fiscal reserves for promoting the development of the economy and industries of Hong Kong.
The board of directors primarily formulates the HKIC’s investment strategies and mandate, makes decisions on investment projects, and ensures and upholds good governance.
Financial Secretary Paul Chan, as chairman of the board of directors, said the corporation will strengthen Hong Kong’s ability to attract investments and enterprises, thus enhancing the city’s competitiveness, leading and supporting the prosperous growth of strategic industries, and creating strong impetus for growth.
He also noted that the Government has received many enquiries, including those from highly competitive companies in the fields of innovation and technology and fintech, since the Policy Address announced measures to compete for enterprises and talent as well as the establishment of the corporation.
The HKIC will study the companies’ proposals in detail and seek to grasp investment opportunities, thereby contributing to the vibrant development of the strategic sectors and the economy.