HONG KONG FINANCIAL SERVICES
The beleaguered Financial Services Development Council yesterday found an unexpected ally - all the way from Chicago.
The 22-member council, a brainchild of Chief Executive Leung Chun-ying, was set up two weeks ago to promote the city's financial industry. It is headed by Executive Council member Laura Cha Shih May-lung.
Lawmakers have complained that the council is beyond the ambit of their scrutiny and that its functions overlap with those of other regulators and promotional bodies.
Amid the rising chorus of criticism, World Business Chicago vice-chairman Michael Sacks yesterday threw his weight behind the council.
World Business Chicago is a public-private non-profit organisation that works to promote Chicago to overseas investors and provide research to help companies setting up shop in the US city.
"No matter how good a product is, it still needs a good marketing campaign. The same applies to cities like Chicago or Hong Kong," Sacks told the South China Morning Post.
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