Saving up in a Timely Manner

152.    In late 2014, the Working Group suggested establishing a Future Fund, comprising an endowment of $220 billion from the Land Fund, which is part of the fiscal reserves, and a proportion of future budget surpluses.  The Future Fund will serve as long-term savings and be placed in long-term investments for higher returns.

153.    I agree to establish a Future Fund.  I have requested the Secretary for Financial Services and the Treasury to work with the Chief Executive of HKMA to hammer out specific management and investment mechanisms.  The savings scheme is expected to be in place within this year.

154.    The Working Group also offered recommendations on how Government's assets could be better managed.  We shall follow up on their recommendations.  I would like to extend my heartfelt thanks to the experts and academics on the Working Group for their contributions over the past two years.