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Hong Kong closer to launching unprecedented HK$22.4 billion investment vehicle with appointment of top executives

Wednesday, September 30, 2020


(SCMP by Denise Tsang) - Hong Kong moved closer on Wednesday to launching an unprecedented HK$22.4 billion (US$2.9 billion) investment vehicle with six non-officials appointed to helm the initiative.

The administration had identified top executives from sectors such as innovation and technology, as well as banking and commerce for a term of two years from October 1. They will become members of the governance committee for the investment drive.

The group will serve as high-level advisers to provide strategic steering for the Hong Kong Growth Portfolio, guiding matters such as investment mandates and asset allocation.

Chaired by Financial Secretary Paul Chan Mo-po,, the committee comprises: Victor Fung Kwok-king, group chairman of trade multinational Fung Group; lawyer and venture capitalist Victor Chu Lap-lik; banker Chen Shuang; venture capitalist Herbert Chia Pun-kok; Hong Kong Science and Technology Parks Corporation chairman Sunny Chai Ngai-chiu; and Cyberport non-executive chairman Lee George Lam.

 

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