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
It is the eighteenth year I have been working at Oxfam Hong Kong. I have dedicated my passion here because Oxfam is courageous enough to speak the truth and advocate for a just world that narrows the poverty gap. Each year, we launch our Hong Kong Poverty Report based on the data from the Census and Statistics Department, providing in-depth analysis of the poverty situation in Hong Kong to develop policy suggestions for alleviating poverty. Looking back, this marks the tenth year since we launched the poverty report. Unfortunately, I must say that this year's report reveals the largest income gap and the highest poverty rate to date.
According to our latest report, it found that the poorest decile earned 81.9 times less than the richest decile in the first quarter of 2024. Over 1.39 million people now live under the poverty line. Of this total, about one million individuals are poor non-economic active population, having left the labor market for different reasons. Even more alarming is the rise in poverty among our elderly; more than 580,000 individuals aged 65 or above were living in poverty, including approximately 260,000 singleton and doubleton elderly households.
Government has just released the Policy Address and I am glad to see that the Policy Address aligns with our calls to activate the non-economic poor population, including the elderly and women, to re-engage with the community with different forms of support. However, the establishment of a poverty line has not been addressed.
Since 2022, the government has stopped publishing poverty reports and associated poverty lines, adopting Targeted Poverty Alleviation instead. This strategy supports single-parent households, elderly households, and those in sub-divided units. However, it's crucial to retain a poverty line to analyze and monitor Hong Kong's overall poverty situation. This data enhances the design of effective poverty reduction policies tailored to different target groups. We understand the concerns in society regarding the accuracy of the poverty line, noting that it may overestimate poverty situation, as some individuals may own properties and other assets. In July of this year, we finished another research report regarding the poverty line and we suggest analysing households that include elderly individuals independently and converting the assets of these families into monthly income through annuitisation methods. We are open to discussing the measurement of the poverty line and hope the government will reconsider it, as it serves as crucial evidence for designing targeted poverty strategies.
The Policy Address proposed the set-up of a Working Group on Promoting Silver Economy. Oxfam expects that the Committee will design its policy suggestions focusing on 'enabling' and 'active ageing' strategies to address the issues arising from population ageing.
We previously suggested the Government create a database for singleton and doubleton elderly households by integrating data from different departments. We’re pleased that the Policy Address mentioned creating an interdisciplinary database for caregivers of the elderly and disabled. We hope this database's scope expands to include singleton and doubleton elderly households and is shared with social welfare agencies. This would help match appropriate social welfare support to these families.
Above all, early intervention and preventive measures are crucial for reducing health risks among the elderly. I welcome the government's proposal in the Policy Address to develop primary healthcare solutions. We further suggest that the government utilise telemedicine and technologies to provide suitable medical care. It should also promote elder-friendly exercises such as dance and stretching, combining programmes with online platforms to enable home training. The government could consider expanding medical vouchers to include online/offline health courses on exercise, allowing elderly to manage their health independently.
For those young old who are still willing to join labor market, we need an elderly-friendly environment. Hong Kong's poor elderly labor participation is only 3.8%, far lower than Mainland China (25%) and Norway (22.2%). The significant discrepancy is largely due to the intensity of pull factors in policy. We advocate the government should encourage employers to hire elderly through simplified application procedures of the Employment Programme for the Elderly and Middle-aged by directly providing subsidies based on the number of new elderly employees hired, as well as enhancing elderly’s willingness to work by lowering the threshold for elderly applicants in the Working Family Allowance Scheme. Even if they engage in part-time job, they could still enjoy full subsidies.
Population ageing doesn't have to lead to a social crisis. Long-term, by promoting Active Ageing and creating elder-friendly environments through technological and social innovations, society can address elderly needs. With government incentives to help re-engage motivated elderly in society and the job market, they can become valuable social capital. We all play a role in supporting each other. With vision and cooperation among public, private, and community stakeholders, Hong Kong can overcome challenges and build a more inclusive future.
This morning, I would like to dedicate a song “Imagine” by John Lennon to all of you and hope we will make a better world together.
03/11/2024 - Wong Shek Hung, Director of Hong Kong, Macau and Taiwan Programme, Oxfam Hong Kong