Listen to #Hashtag Hong Kong every Sunday morning at 8.15
Focussing on issues affecting civil society, we'll hear from representatives of NGOs, associations, statutory bodies, and non-profit groups.
(Sundays 8.15am - 8.25am)
The Hong Kong Jockey Club Financial Education Programme is an initiative designed to empower upper primary students with essential financial competency they need for financial well-being and lifelong success.
Financial capability is more than just a skill—it’s a life necessity. It determines whether young people can navigate adulthood with confidence, achieve financial stability, and avoid pitfalls like scams or poor financial decisions. While Hong Kong ranks highly on global financial literacy indices, younger individuals often exhibit lower scores and express dissatisfaction with their financial situations.
Regardless of socio-economic background, all young people face financial decisions that can shape their long - term well-being. Unfortunately, most existing initiatives and after-school activities often fall short of providing a comprehensive, scalable solution. This gap underscores the urgent need for a structured, impactful programme like the one we’re discussing today.
Aligned with curriculum reforms in primary school Humanities subjects and supported by the Education Bureau, this programme is a collaborative effort initiated and funded by The Hong Kong Jockey Club Charities Trust . Partners include The University of Chicago Financial Education Initiative , The Education University of Hong Kong , the Hong Kong Family Welfare Society , CoCoon Foundation , and Solomon Learning Group .
At its core, the programme seeks to strengthen financial literacy as a future-ready skill. By equipping students with essential knowledge, the right mindset, and critical decision-making abilities, it aims to help them achieve long-term financial well-being and personal fulfillment. Students will learn to judge right from wrong in financial matters, avoid scams, and make informed choices, these are skills indispensable in today’s fast-paced digital economy.
What distinguishes this initiative is its holistic and sustainable design. By collaborating with local educators and global experts, the programme delivers high-quality learning materials and professional development support. Its integration into the formal curriculum ensures longevity, while its focus on experiential learning and community engagement makes it uniquely impactful.
The programme adopts a holistic approach, engaging three key stakeholders: students, teachers, and parents.
Central to the programme is a culturally relevant, age-appropriate curriculum tailored for upper primary students. Developed in alignment with the Hong Kong Financial Competency Framework and researches from the University of Chicago’s Financial Education Initiative, the curriculum integrates financial education into formal lessons, particularly in Humanities subjects. This ensures sustainability and creates a lasting impact within the school system.
To reinforce classroom learning, experiential activities such as marketplaces and inter-school competitions allow students to apply decision-making skills in real-life scenarios. These activities foster critical thinking, practical decision-making and problem-solving skills, helping students build confidence in assessing risks, and making sound judgments.
Teachers are pivotal to the programme’s success. To support them, professional development training and certification are provided, equipping educators with the tools and expertise needed to teach financial education effectively. Additionally, Communities of Practice will be established, bringing together teachers from different schools to co-create resources, share experiences, and foster collaboration. This network ensures that best practices are shared and scaled across participating schools.
Parents play an equally vital role in shaping their children’s financial habits. The programme offers parent-child workshops and public talks, providing expert advice and practical strategies for modeling sound financial behavior. Parents will also learn how to guide their children in recognising and avoiding financial scams which is a growing concern in today’s digital age. By involving parents, the programme creates a supportive ecosystem that reinforces financial education both at home and in school.
To ensure effectiveness, the programme incorporates an evidence-based evaluation design. This approach assesses student learning outcomes and provides valuable insights for continuous improvement. Data-driven feedback loops enable the programme to adapt and evolve, ensuring maximum impact.
Over the course of its implementation, the programme will benefit:
17,800 students , 240 teachers , and 1,500 parents across 70 schools.By targeting these groups, the programme creates a ripple effect, fostering a culture of financial literacy in school system.
The Hong Kong Jockey Club Financial Education Programme represents a critical step toward preparing young people for the future. By equipping them with the skills, knowledge, and mindset to make sound financial decisions, we are nurturing a generation of confident, financially responsible citizens.
Financial education is not just about numbers, it’s about empowerment, resilience, and opportunity. Together, we can create a brighter future for our children and our communities.
06/04/2025 - Daniel Lai - Programme Director of the Hong Kong Jockey Club Financial Education Programme
The quality of taxi services in Hong Kong has long been a contentious issue, exacerbated in recent years by the rise of internet-hailing ride services and economic downturns. These challenges have significantly impacted the taxi industry, notably seen in the plummeting value of urban taxi licenses from $7.6 million in 2013 to approximately $3.1 million by mid-2024. The financial strain on taxi drivers, who often pay exorbitant rents to taxi owners, has led to diminished service quality and a lack of motivation to meet passengers' expectations.
In response to these issues and resulting public criticisms, the Hong Kong Taxi Council launched a customer service campaign in order to address industry shortcomings and revitalize service standards. This initiative seeks to acknowledge the challenges faced by drivers and demonstrate a commitment to improving service quality. It represents a pivotal moment for the taxi industry, highlighting the urgency for reform amidst declining public confidence and competition from ride-hailing platforms like Uber, which, despite facing legal hurdles, have captured significant market share due to their perceived convenience and competitive pricing.
Challenges of Operating Taxi Services in Hong Kong
Operating taxi services in Hong Kong presents multifaceted challenges, primarily driven by financial burdens and an outdated licensing system that favors a few incumbent owners. High rental costs for taxis directly impact drivers' earnings, leading to dissatisfaction and reduced service standards. The monopolistic nature of the licensing regime further stifles competition and innovation within the industry, hindering its ability to adapt to evolving consumer demands and technological advancements. The industry has also failed to attract young blood and hence most of the drivers are way past the benchmark of old age of 60 years.
The emergence of ride-hailing platforms has intensified competition, exacerbating the plight of traditional taxi services. Uber, despite operating in a legal gray area, has attracted a sizable customer base seeking more efficient transportation alternatives. This underscores the growing preference for flexible, technology-driven services that traditional taxis struggle to match. To remain viable, Hong Kong's taxi industry must confront these challenges head-on, addressing both regulatory barriers and internal operational deficiencies.
Can the Ambassador Campaign Really Help?
The effectiveness of the ambassador campaign hinges on its ability to instill a culture of professionalism and service excellence among taxi drivers. By emphasizing the importance of courtesy and customer satisfaction, the campaign could perhaps rebuild trust and improve overall passenger experience. However, achieving sustainable improvement requires more than just promotional efforts—it necessitates structural reforms and tangible incentives to incentivize drivers towards higher service standards.
Drawing insights from global practices, cities such as Singapore and Dubai, have integrated technology in taxi services. This provides a relevant benchmark for Hong Kong. Technology-enabled booking systems and electronic payments can streamline operations, enhance user convenience and service efficiency. Embracing similar innovations could bolster Hong Kong's taxi industry, making it more competitive and appealing to consumers accustomed to digital solutions.
Improvement Suggestions for the Government and Stakeholders
To foster lasting change, collaborative efforts between the government and industry stakeholders are imperative. Key recommendations are:
1. Reform the Licensing System: Transitioning towards a more competitive licensing framework based on performance metrics could stimulate service improvements. By diversifying ownership and promoting operational transparency, the government can create a more dynamic marketplace conducive to innovation and service quality.
2. Embrace Technological Integration: Expanding digital infrastructure, such as app-based booking systems and cashless payment options, would modernize service delivery and enhance user experience. Initiatives like the government's proposed rollout of premium taxi fleet licenses and e-payment solutions represent positive strides towards technological integration.
3. Promote Public Awareness: Educating consumers about their rights and responsibilities when using taxi services is crucial for fostering mutual respect and improving overall service interactions. Public awareness campaigns can enhance passenger satisfaction and encourage a culture of accountability among drivers.
Hong Kong is an international city renowned for its best of the class transport system. There is no plausible reason why the taxi service cannot be improved to same standards.