Financial literacy is a fundamental skill that is essential to young people. Global leaders and policymakers have recognised its importance in enabling individual well being.
Earlier this year, we did a study to find out HK youth’s financial knowledge, behaviour, motivations, attitudes and financial education needs. We commissioned the research firm GfK to conduct a survey among 500 young people in Hong Kong of the ages 15 to 18.
Through understanding and presenting their level of financial literacy, we hope to supplement existing efforts in promoting financial education in Hong Kong. The Investor Education Center (IEC)’s “Hong Kong Financial Competency Framework” lays down the financial competencies that a young person aged 15 to 18 should have. Our study builds on this, and identifies specific areas of needs and makes policy recommendations to improve Hong Kong young people’s financial literacy.