Arrangement of first clump of general accomplices for Hong Kong Growth Portfolio
The Government reported today that the Investment Committee of the Hong Kong Growth Portfolio (HKGP) has chosen to designate three private value firms as the principal group of general accomplices to make vital ventures for HKGP. Every one of the three private value firms either have their base camp situated in Hong Kong, or have significant workplaces set up in
"The three private value firms are altogether visionary and have exceptional cross-sectoral speculation abilities. Every one of them right now has more than HK$100 billion of resources under administration and has rich involvement with making interests in projects with a Hong Kong nexus. I invite the choice of delegating these organizations as our accomplices, and have each certainty that HKGP could assist with upgrading Hong Kong's usefulness and intensity over the long haul," said the Financial Secretary, Mr Paul Chan.
The Financial Secretary acknowledged, last February, the proposals of the Group of Experienced Leaders to send 10% of the Future Fund to set up the speculation portfolio for making key , with the end goal of supporting Hong Kong's status as a monetary, business and development focus and raising Hong Kong's usefulness and seriousness over the long haul, while looking for sensible danger changed returns.
The Government set up, last September, a two-level board of trustees structure for HKGP, including a Governance Committee and an Investment Committee, to take forward the drive. The Financial Secretary seats the Governance Committee with six non-official individuals who have rich involvement with venture to give vital controlling to HKGP and give direction on issue, for example, speculation commands and resource assignment. The Investment Committee is led by the Secretary for Financial Services and the Treasury, and includes agents from important government organizations to settle on the arrangement of general accomplices as per the boundaries determined by the Governance Committee and to regulate the exhibition of the overall accomplices. The Hong Kong Monetary Authority is answerable for offering important leader help to the activity of HKGP, including sourcing general accomplices, directing due persistence and making proposals.
The participation and terms of reference of the Governance Committee and the Investment Committee of HKGP can be found at the Annex.
Individuals from the HKSAR Government designation will incorporate the Chief Secretary for Administration, Mr John Lee; the Secretary for Constitutional and Mainland Affairs, Mr Erick Tsang Kwok-wai; the Secretary for Commerce and Economic Development, Mr Edward Yau; the Secretary for Development, Mr Michael Wong; the Secretary for Financial Services and the Treasury, Mr Christopher Hui; the Secretary for Innovation and Technology, Mr Alfred Sit; the Secretary for Security, Mr Tang Ping-keung; the Director of the Chief Executive's Office, Mr Chan Kwok-ki; and the Under Secretary for Education, Dr Choi Yuk-lin.
During her visit in Shenzhen, Mrs Lam will likewise go to the initiation service of the Shenzhen Hong Kong Pui Kiu College Longhua Xinyi School.