Lee says banks have key role to play in five-year plan

Chief Executive John Lee on Friday described the banking sector as a crucial partner for Hong Kong in its efforts to better integrate into and serve the country's development. Speaking at an Association of Banks event, he said the organisation has long been vital to the city's financial resilience and long-term prosperity. Noting that Hong Kong is set to unveil its first five-year plan this month, Lee emphasised that the sector forms a crucial part of it. “The plan will leverage Hong Kong's unparalleled roles as a super connector and super value-adder, linking mainland capital and enterprises with global markets, while bringing in international capital, technology and talent,” he said. “The banking sector is our crucial partner in realising this strategic vision, bringing it to our dynamic life." Lee called for continued cooperation, highlighting four key areas that the government and the banking sector can work together on: expanding the offshore renminbi business and deepening financial connectivity; empowering the real economy and encouraging innovation and technology through finance; developing trading in commodities; and strengthening financial security and market integrity. H