The report "Long-term Investing in Hong Kong: Developments and Opportunities in a Digital Economy," published by the Hong Kong Institute for Monetary and Financial Research ("HKIMR"), delves into the long-term investing landscape in Hong Kong, highlighting high digital adoption rates (72% residents, 70% market participants) for financial services. It finds a need for greater awareness and supply of long-term investing products and emphasizes the importance of adopting frontier technologies to drive innovation and efficiency in the market. The report aims to help market participants navigate challenges and seize business opportunities in the digital economy.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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The report 'Long-term Investing in Hong Kong: Developments and Opportunities in a Digital Economy,' published by the Hong Kong Institute for Monetary and Financial Research ("HKIMR"), provides a comprehensive overview of the long-term investment landscape in Hong Kong, with a particular emphasis on the role of the digital economy.
The report presents two key surveys: one examining the long-term investment decisions of Hong Kong residents and the other focusing on local market participants' views on digital adoption and the distribution of financial products. The research finds high digital adoption rates, with 72% of residents and 70% of market participants utilizing digital financial services and platforms.
The report underscores that while Hong Kong has a solid base of financial knowledge, there is a pressing need for enhanced awareness and availability of long-term investing and decumulation products. It stresses the importance of embracing frontier technologies to drive innovation, cost efficiency, and effective product distribution within the long-term investing ecosystem.
The primary objective of the report is to assist market participants in navigating challenges and identifying business opportunities within the Hong Kong long-term investment landscape. It aims to serve as a valuable resource for navigating the complexities of a digital economy.
The report is accessible on the AoF/HKIMR website and is an excellent example of collaborative research conducted by the Hong Kong Academy of Finance ("AoF"), in partnership with various regulatory bodies and academic institutions. The AoF's mission is to develop financial leadership and serve as a repository of knowledge in monetary and financial research.
The HKIMR, as the research arm of the AoF, specializes in conducting research on monetary policy, banking, and finance. Its studies are crucial for understanding the financial landscape in Hong Kong and the broader Asia region.
The 'Long-term Investing in Hong Kong: Developments and Opportunities in a Digital Economy' report was released on 22 September 2023, providing strategic insights into the direction and development of Hong Kong’s financial industry in a digital economy.
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