The Financial Services and the Treasury Bureau (FSTB) is a part of the 15

policy bureaux The Government of the Hong Kong Special Administrative Region (commonly known as the Hong Kong Government or HKSAR Government) is the executive authorities of Hong Kong. It was established on 1 July 1997, following the handover of Hong Kong. ...

for the

Hong Kong Special Administrative Region Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a Special administrative regions of China, special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the List of ...

. They are responsible for developing and executing government policy on

finance Finance refers to monetary resources and to the study and Academic discipline, discipline of money, currency, assets and Liability (financial accounting), liabilities. As a subject of study, is a field of Business administration, Business Admin ...

and

treasury A treasury is either *A government department related to finance and taxation, a finance ministry; in a business context, corporate treasury. *A place or location where treasure, such as currency or precious items are kept. These can be ...

. The agency was established on 1 July 2002. The current (since 1 July 2017) Secretary for Financial Services and the Treasury is

Christopher Hui Christopher Hui Ching-yu (; born 1976) is a Hong Kong politician and government official. Since 2020, he has been Secretary for Financial Services and the Treasury. Biography Hui is the son of a veteran pro-Beijinger Hui Wang-chuen who is a lea ...

and the under secretary is Joseph Chan.

History

Financial Services Bureau was established on 1 July 1997. The previous form is Financial Services Branch under

colonial Hong Kong Hong Kong was under British rule from 1841 to 1997, except for a brief period of Japanese occupation during World War II from 1941 to 1945. It was a crown colony of the United Kingdom from 1841 to 1981, and a dependent territory from 1981 to ...

, headed by the

Secretary for Financial Services A secretary, administrative assistant, executive assistant, personal secretary, or other similar titles is an individual whose work consists of supporting management, including executives, using a variety of project management, program evaluat ...

. Finance Bureau was established on 1 July 1997. The previous form is Finance Branch under

, headed by the Secretary for the Treasury. Financial Services Bureau and Finance Bureau were merged to become Financial Services and the Treasury Bureau on 1 July 2002, headed by the

Secretary for Financial Services and the Treasury The Secretary for Financial Services and the Treasury, head of Financial Services and the Treasury Bureau of the Hong Kong Government, is responsible for the monitoring of financial services sector and maintaining the assets of the governme ...

. A Financial Services Branch and a Treasury Branch were created within the Bureau, each headed by a permanent secretary of D8 rank on the Directorate Pay Scale. In March 2021, the FSTB announced proposed changes to the Companies Registry, where information on companies would begin to be hidden. In response, David Webb said that such changes "will facilitate corruption, fraud and other crimes." The ''

New York Times ''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...

'' also said that those changes could potentially benefit Chinese Communist Party officials, as families of top officials had bought property in Hong Kong using companies. In December 2022, the FSTB announced that it would seek to regulate crowdfunding in Hong Kong, suggesting that all campaigns file an application before launching.

Official Receiver's Office

Official Receiver's Office (ORO, ) is a government department within the bureau. They are responsible for statutory functions relating to insolvency, by being the role of liquidator and trustee of last resort in the administration of both corporate and personal insolvency cases respectively. The Office was established on 1 June 1992, taking over the powers and perform the duties of the Insolvency Division of the then Registrar General's Department. According to Bankruptcy Ordinance (Cap. 6), once the court make a bankruptcy order, the Official Receiver will become the provisional trustee of the property of the bankrupt, and become the liquidator under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) to conduct personal or company compulsory liquidations.

Past Secretaries

* Treasury affairs **

Deputy Financial Secretary Deputy Financial Secretary is a ministerial position in the Government of Hong Kong, deputising the Financial Secretary. The position was created in 2022 after John Lee took office as Chief Executive A chief executive officer (CEO), also kno ...

(1945–1989) **

Secretary for the Treasury The Secretary for the Treasury (, formerly ) was a minister in the Government of Hong Kong between 1989 and 2002, responsible for maintaining the assets of the government. The position was replaced by Secretary for Financial Services and the Tre ...

(1997–2002) ** ''Treasury affairs were handled by the

since 2002'' * Financial services affairs ** Secretary for Monetary Affairs (1976–1993) **

(1993–2002) **

(2002–present)

References

External links

Hong Kong SAR Financial Services and the Treasury Bureau
{{DEFAULTSORT:Financial Services And The Treasury Bureau Hong Kong Government Hong Kong government policy bureaux 2002 establishments in Hong Kong Government agencies established in 2002 Financial regulatory authorities of Hong Kong