Written by: Hu Jiaxin
Last update date: 2020-09-30 19:45
The Hong Kong Government’s Budget this year announced that it would allocate 22 billion to the "Future Fund" to set up an investment portfolio called the "Hong Kong Growth Portfolio" to directly invest in projects "linked to Hong Kong." Temasek".
The government announced today that the newly established governance committee of the "Hong Kong Growth Group" is chaired by Financial Secretary Chen Maobo. The non-official members include a number of fierce businessmen, including Li & Fung Group Chairman Feng Guojing, and Hong Kong Science and Technology Parks Corporation Board Chairman Cha Yi Chao, former vice president of Alibaba and Che Pinjue, known as the "big data brother", etc.
The government today announced the establishment of the "Hong Kong Growth Portfolio" Governance Committee. The committee consists of 11 members, chaired by the Financial Secretary, Chen Maobo, and 6 unofficial individuals with extensive investment experience serving as members. The term of office is two years from tomorrow in October. From the 1st to September 30th, 2022.
The list of six members includes Feng Guojing, Chairman of Li & Fung Group, Zhu Lili, Chairman and CEO of First Oriental Investment Group, Chen Shuang, CEO and President of CIMC Capital Holdings, former Vice President of Alibaba, and Sequoia Capital China Fund Expert Partner Che Pinjue, Chairman of the Board of Directors of Hong Kong Science and Technology Park Corporation Zha Yichao, and Chairman of Cyberport Lin Jiali.
The Secretary for Financial Services and the Treasury, Xu Zhengyu, is an ex officio member, and there are three other observers, namely Yan Meiwei, Permanent Secretary for Financial Services and the Treasury (Financial Services), and Liu, Permanent Secretary for Financial Services and the Treasury (Treasury) Yu Weiwen, President of Yan and the HKMA.
The government announced today that it has established the "Hong Kong Growth Portfolio" governance committee, chaired by the Financial Secretary, Chen Maobo.
According to the government, the Governance Committee is a high-level advisory organization whose responsibilities include providing strategic supervision for the "Hong Kong Growth Portfolio". While striving for higher returns, it will consolidate Hong Kong's position as a center of finance, commerce, and innovation, and enhance Hong Kong in the long run. Provide guidance on investment objectives, investment criteria, risk-return status and asset allocation, and monitor the performance of the "Hong Kong Growth Portfolio".
The government also stated that it has established a two-tier committee structure for the "Hong Kong Growth Portfolio", namely the Governance Committee and the Investment Committee, to promote related work.
The Investment Committee is chaired by Xu Zhengyu and is composed of representatives of relevant government departments to handle matters including the appointment of general partners.
Chen Maobo said that the non-official members of the Governance Committee are private equity and venture fund professionals, financial and business leaders, and they are expected to provide advice on strategic issues of the "Hong Kong Growth Portfolio".
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