Regulators

Hong Kong Financial Services and the Treasury Bureau (FSTB)

The policy bureau of the Government of the Hong Kong Special Administrative Region of the People's Republic of China, responsible for Hong Kong-related financial affai...

Organization Profile

Nature of Institution: National Institution
Institutional introduction: The Financial Services and the Treasury Bureau will strive to cooperate with regulators and the industry, and continue to seek more development opportunities for the financial services industry in Hong Kong. As regards treasury work, the Financial Services and the Treasury Bureau will formulate fiscal policy matters to ensure that public resources are used appropriately for economic and social development. The stability of the financial market is crucial to boosting Hong Kong's economy and improving the quality of life of the people. As an international city, Hong Kong has the unique advantage of "one country, two systems". We must fully seize the opportunity to consolidate our position as an international financial center, an international asset management center and an offshore RMB business hub.
The Financial Services and the Treasury Bureau is the policy bureau of the Government of the Hong Kong Special Administrative Region of the People's Republic of China. It is responsible for financial affairs and government treasuries in Hong Kong.

Institutional Functions
Financial Services Branch: To maintain and enhance Hong Kong's status as the country's major international financial centre by developing a suitable economic and legal environment to ensure that our markets remain open, fair and efficient.
Treasury Section:
(1) Responsible for overall resource planning, including formulating overall public spending guidelines based on medium-term forecasts and putting them into practice.
(2) Manage and coordinate the annual resource allocation, and prepare the annual financial budget.
(3) Provide advice and support to high-level resource meetings on regular baseline reviews and annual resource allocation.
(4) Manage the government's tax policy and administrative work to ensure that sufficient income can be collected, and try to maintain a simple, stable and income-rich taxation system.
(5) To formulate and implement policies and measures to ensure the effective control and management of public revenue and expenditure, including assets and investments.
To perform certain functions that should not be delegated to bureaus and departments.
(6) Advocate emphasis on economic benefits in public investment and expenditure.
Act as the official liaison between the Government and the Legislative Council on all financial matters.
(7) Assist policy bureaus in formulating policies, especially ensuring that the fiscal implications of proposed policies are fully considered.
(8) Responsible for policy work on the following matters: taxation, rates and charges; government accounting arrangements; procurement and tendering matters; land transportation; printing; and government properties.
Public Finance:
(1) Public Financial Management
(2) Financial data
(3) Reviews and Research
(4) Financial status of the Government of the Hong Kong Special Administrative Region
Fiscal related plans:
Electricity Subsidy
General Income and Tax Policy:
(1) General income
(2) Tax policy
(3) Comprehensive Double Taxation Agreement
Government Procurement:
(1) Government Procurement Policies and Procedures
(2) Government bidding materials
(3) World Trade Organization Government Procurement Agreement
(4) Close Economic Cooperation Agreement between Hong Kong, China and New Zealand (Chapter 12: Government Procurement)
(5) Free Trade Agreement between Hong Kong, China and Chile (Chapter 9: Government Procurement)
Government bonds and agency notes issued in 2004
Legislative Council duties:
(1) Legislative Council question
(2) Legislative Council bills and resolutions
(3) Legislative Council motion debate
(4) Finance Committee, Sub-committees and Panels
(5) Special meeting of the Finance Committee
Accept Financial Advisory Services Company Registration
Committee:
(1) Tax Appeals Board
(2) Taxation Committee
(3) Central Bidding Committee (Traditional Chinese only)
(4) Central Consulting Company Selection Committee (Traditional Chinese only)
Contact
Tel: 2810 3824
Fax: 2869 4531
Email: [email protected]
Address: Financial Services and the Treasury Bureau (Treasury Branch), 24/F, Central Government Offices, 2 Tim Mei Avenue, Tamar, Hong Kong

Organizational Purpose

1. Director's Office
The purpose is to ensure the smooth functioning of the Office of the Secretary for Financial Services and the Treasury. The Office of the Secretary for Financial Services and the Treasury is responsible for providing support to the Secretary for Financial Services and the Treasury in his political work. This includes support provided by Deputy Commissioners and Political Assistants. The Office is also responsible for providing administrative support to the Secretary for Financial Services and the Treasury to assist him in the performance of his duties. Work includes planning and coordinating the Secretary's official, media and district activities, as well as implementing various related arrangements.
2. Government revenue and financial management
The purpose is to manage resource allocation, supervise the government's taxation and other revenue collection policies, assist the government in making decisions on investment projects, and promote open, fair and competitive tendering arrangements in accordance with the government's prudent financial management principles and other policy guidelines.
Under this programme, the work of the Treasury Branch is to formulate, co-ordinate and support the following policies and programmes:
(1) To ensure that the growth of government spending is in line with the trend of economic growth over a period of time;
(2) In response to the affordability of the government and the sustainability of public finances, ensure that resources are used for the purposes that are most beneficial to society;
(3) Invest in large-scale infrastructure projects to enhance Hong Kong's competitiveness and improve the living environment;
(4) maintain a simple and low tax system, thereby encouraging investment and facilitating business;
(5) Improve tax transparency, combat tax evasion, and minimize opportunities for tax avoidance;
(6) Advocate the provision of government services that are cost-effective and adhere to the principles of "cost recovery" and "user pays"; and
(7) Maintain financial reserves to meet the needs of the government's daily operations, protect investment income, meet unprovisioned liabilities and commitments, and provide protection to meet unexpected needs, etc.
3. Service Department
The aim is to ensure that government departments receive the central support services they need so that they can maintain and improve the standard and quality of services to the public in an efficient and cost-effective manner.
Under this programme, the Treasury Branch is responsible for formulating and coordinating the following policies and programmes:
(1) Ensuring that central support services (such as financial information management, procurement, material supply management, vehicle management, printing, and provision of dormitory and office space) are provided in an efficient and cost-effective manner; and
(2) To ensure that the subordinate service departments provide high-quality support services to meet the needs of users in various bureaux and departments.

Policy Outline

The objectives of the Financial Services Branch are:
1. Maintain and enhance Hong Kong's status as a major international financial center;
2. To maintain the soundness and stability of Hong Kong's financial system;
3. Ensuring the efficient and orderly functioning of financial markets and that they are prudently and appropriately regulated; and
4. Create a business environment that is open, fair and conducive to the development of financial markets.
The Financial Services Branch is committed to achieving the above objectives through the following means:
1. On the banking system, securities and futures market, asset management industry, insurance industry, Mandatory Provident Fund (MPF) scheme and occupational retirement scheme, company law, trust law, company bankruptcy, personal bankruptcy, accounting matters, as well as with the Mainland financial cooperation matters, formulate policies and submit legislative proposals;
2. To assist the Financial Secretary in supervising the relevant regulatory bodies, including the Securities and Futures Commission, the Insurance Authority, the Mandatory Provident Fund Schemes Authority and the Financial Reporting Council;
3. To co-ordinate and facilitate the implementation of new measures on financial infrastructure to enhance Hong Kong's competitiveness;
4. Promote market innovation to increase the depth and breadth of the market; and
5. Oversee the operations of the Census and Statistics Department, the Companies Registry and the Official Receiver's Office.

Complaint Handling

For enquiries and complaints, please provide your name and contact information for follow-up. We will deal with all enquiries and complaints promptly.
We will acknowledge your enquiry or complaint within ten days and will try to respond within thirty days.
Email: [email protected]
Working hours: Monday to Friday (8:45am to 6:00pm, lunch break from 1:00pm to 2:00pm)

Related Links

Company Registry: https://www.cr.gov.hk
Hong Kong Securities and Futures Commission: http://www.sfc.hk
Investor Education Center: https://www.thechinfamily.hk
Official Receiver's Office: https://www.oro.gov.hk
Securities and Futures Tribunal: http://www.sfat.gov.hk
HKEX: http://www.hkex.com.hk
Hong Kong Securities and Investment Institute: https://www.hksi.org
Hong Kong Monetary Authority: http://www.hkma.gov.hk

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