27.     As an international financial centre, one of our major tasks is to provide an effective, transparent and fair regulatory regime on a par with international standards.  Last year, this Council enacted the Deposit Protection Scheme Ordinance, which will improve the protection of deposits in Hong Kong .  The scheme is expected to start in 2006.  We will also introduce a bill into this Council next month to implement the new capital adequacy standards for banks issued by the Basel Committee on Banking Supervision, commonly known as Basel II.  These new standards will strengthen the risk-management capability and stability of our banking sector and stand it in good stead for the further liberalisation of the Mainland's financial markets in future.

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