Core Insights - The Hong Kong Financial Development Council (FSDC) released its report for the fiscal year 2024/25, focusing on key areas of financial development including asset and wealth management, green and sustainable finance, fintech, and global market connectivity [1][2] - The report highlights the need to enhance liquidity and efficiency in Hong Kong's capital markets, solidify its position as a leading global insurance hub, and promote the internationalization of China's carbon market [1] - Since its establishment in 2013, the FSDC has proposed 266 policy recommendations, with 193 (73%) followed up by the Hong Kong SAR government, demonstrating its influence in shaping the financial ecosystem [1] Group 1 - The FSDC aims to respond to profound changes in the global financial landscape, including trade routes, capital markets, wealth flows, and rapid technological advancements [1] - The council emphasizes Hong Kong's unique advantages, including its close ties with mainland China, robust legal framework, and free market policies, positioning it to expand international connections and attract global talent [1] - The FSDC's Executive Director stated that the achievements reflect a strong commitment to enhancing Hong Kong's financial services sector through policy research, strategic partnerships, market promotion, and talent development [2] Group 2 - The FSDC plans to continue building on its achievements to address new challenges and create a sustainable and resilient financial future [2]