billchoa/3036384256-COMP7607-data huggingface dataset:
user: Please translate the following sentence from English to Chinese: An IPO market that favours the launching of new REITs Growth of REITs Although REITs are billed as stable income plays, their success in other major markets like US and Australia has been due to no less than their ability to grow, not just income-wise but also in the size, depth and diversity of their investment portfolios.

assistant: 有利於推出新房地產基金的首次公開招股市場 房地產基金的增長 儘管房地產基金被視爲穩定的收入工具，這類基金在美國及澳洲等其他主要市場的成功在很大程度上乃歸因於其增長能力，不僅是收入方面，亦包括基金的投資組合在規模、深度及種類各方面的增長。
user: Please translate the following sentence from English to Chinese: When I joined the SFC’s Investment Products Division in 2015, I often heard people say that funds must be sold, not bought.

assistant: 我於 2015 年加入證監會的投資產品部時，經常聽見有人說： “基金是要兜售而非由客戶自行買入的”。
user: Please translate the following sentence from English to Chinese: Capitalizing on Hong Kong’s position as a magnet for overseas funds, companies continue to select Hong Kong as one of their key strategic markets to conduct asset management business.

assistant: 香港是吸納海外資金的好地方，資產管理公司爲了利用香港這個優點，紛紛繼續選擇以香港作爲其經營資產管理業務的其中一個主要策略性市場。
user: Please translate the following sentence from English to Chinese: o Management responsibility;

assistant: o 管理層的責任；
user: Please translate the following sentence from English to Chinese: We are also conducting a preliminary study on the feasibility of establishing a mutually recognised mechanism for index tracking funds that are traded on the respective exchanges (i.e. ETFs) in Taiwan and Hong Kong.

assistant: 我們現在也正初步研究是否能設立一套有關在香港及臺灣各自交易所買賣的基金（即ETF）互相認可的機制。
user: Please translate the following sentence from English to Chinese: The SFC itself is even younger than IOSCO - it was established in the aftermath of Black Monday in October 1987, following recommendations that a single independent statutory body be established to oversee and regulate the securities markets.

assistant: 證監會的營運歷史較國際證監會組織的更短，是繼 1987 年 10 月的黑色星期一事件餘波後，按照有關應設立單一獨立的法定機構以監察及監管證券市場的建議而成立的。
user: Please translate the following sentence from English to Chinese: In mid-2010, the SFC began discussions with Mainland authorities on how to structure the RMB QFII.

assistant: 2010 年中，證監會開始與內地當局商討人民幣 QFII 的架構。
user: Please translate the following sentence from English to Chinese: During 2005, a total of 18 issuers participated in the derivative warrants markets.

assistant: 在 2005 年，有合共 18 家發行人參與衍生權證市場。
user: Please translate the following sentence from English to Chinese: With the barriers of international trade remove and with the aid of technology, the financial industry has been able to move and innovate at such an impressive speed that regulation has a tendency to lag behind the markets.

assistant: 隨著國際貿易障礙的撤銷及技術上的協助，金融界得以驚人的速度發展及創新，因而使監管工作傾向落後於市場。
user: Please translate the following sentence from English to Chinese: So far, aside from The Link REIT, all the REITs listed in Hong Kong are spin-offs of properties owned by property companies already listed in Hong Kong, and the REIT managers are seasoned local property portfolio managers.

assistant: 到目前爲止，除領匯基金外，所有在香港上巿的房地產基金都是由早已在香港上市的地產公司所擁有的物業分拆出來，而有關的房地產基金經理均爲經驗豐富的本地物業投資組合經理。
user: Please translate the following sentence from English to Chinese: To ensure the continued success of any financial market, there needs to be a partnership among regulators, market practitioners and investors in exercising regulatory discipline, market discipline and self-discipline.

assistant: 金融市場若要續創佳績，監管機構、市場從業員及投資者必須同心協力，嚴守監管法則、市場紀律，並要發揮自律精神。
user: Please translate the following sentence from English to Chinese: In addition, investment advisory firms that have built up a good reputation will more easily attract talented staff.

assistant: 此外，聲譽良好的投資顧問商號亦較易吸引人才。
user: Please translate the following sentence from English to Chinese: provide a training ground for Mainland investors;

assistant: 增進內地投資者的金融知識；
user: Please translate the following sentence from English to Chinese: Our view is that banks and firms should not wait for us to complete our investigations before discussing any potential misconduct issues with us.

assistant: 我們認爲，銀行和商號不應待我們完成調查後，才與我們就任何潛在的失當行爲進行商討。
user: Please translate the following sentence from English to Chinese: “Red chips” are shares issued by companies with business, assets, markets and ownership that have a strong Mainland orientation, but the companies are incorporated outside China.

assistant: “紅籌股”指在內地有重大業務、資產、市場及擁有權、但卻在中國境外註冊成立的公司所發行的股份。
user: Please translate the following sentence from English to Chinese: The information age has promoted a keen interest and awareness of global economic and financial developments. It has also increased transparency and governance and this has enhanced market discipline.

assistant: ”資訊年代促進人們對全球經濟及金融發展的莫大興趣及認知，同時提高了透明度及管治水平，因而加強了巿場紀律。
user: Please translate the following sentence from English to Chinese: We found this a bit suspicious because the company did not seem to have an urgent need for funding on any of these occasions.

assistant: 我們認爲此事頗有可疑，因爲該公司在這三個情況下似乎都沒有迫切的集資需要。
user: Please translate the following sentence from English to Chinese: we will organise more investor education programmes through innovative approaches to make the learning process more interesting.

assistant: 我們會舉辦更多創新的投資者教育活動，使學習過程更富趣味性。
user: Please translate the following sentence from English to Chinese: While we have not yet seen significant growth among the REITs in Hong Kong, we understand from our discussions with different REIT managers that they too see acquisition as the next phase of development for Hong Kong listed REITs and they are actively looking out for appropriate investment opportunities.

assistant: 儘管香港的房地產基金尚未出現顯著增長，我們在與不同的房地產基金經理討論的過程中，了解到他們亦認爲收購是香港上市的房地產基金的下一發展階段，而他們正積極尋找合適的投資機會。
user: Please translate the following sentence from English to Chinese: 15. There are still restrictions on overseas investments and cross-border capital flows on the Mainland, but these barriers to capital flow are gradually being relaxed.

assistant: 15. 內地對於海外投資及資金的跨境流動仍有限制，但這些資金流動上的障礙已逐步放鬆。
user: Please translate the following sentence from English to Chinese: We expect to see further increases in the breadth and depth of the market for RMB investments products in Hong Kong.

assistant: 我們期待香港的人民幣計價投資產品市場在廣度和深度方面繼續擴展。
user: Please translate the following sentence from English to Chinese: Next week you will see the massed forces of Paulson, Bloomberg and SEC commissioners take aim at AIM – please pardon the pun – and accuse other markets, notably but not exclusively the UK, as being soft on enforcement.

assistant: 下個星期，你會見到保爾森(Paulson)、彭博和美國證券交易委員會衆委員一同把矛頭指向英國的另類投資市場(AIM)，並指責其他市場，特別是但不限於英國，在執法上太過寬鬆。
user: Please translate the following sentence from English to Chinese: This, we hope, will attract investors and quality market players, and preserve an environment that is conducive to product development, which in turn, will facilitate the growth of the market.

assistant: 我們希望可藉此吸引投資者和優質市場參與者，並保持一個有利於產品發展的環境，從而促進市場增長。
user: Please translate the following sentence from English to Chinese: The success of the Hong Kong market lies in the fact that we maintain an open architecture, encouraging the best and brightest from all over the world to come here to easily plug in and play under a set of transparent rules that are firmly and fairly enforced.

assistant: 香港市場的成功，取決於維持開放的制度，設有公平切實執行、具透明度的規則，鼓勵世界各地的精英參與本地市場，在此經營業務。
user: Please translate the following sentence from English to Chinese: To that end, the SFC has proposed establishing an investor education body to improve investor education across the financial services sectors.

assistant: 爲此，證監會已建議成立一個投資者教育組織，以改善跨越各個金融服務界別的投資者教育。
user: Please translate the following sentence from English to Chinese: It also earns its reputation as a world class financial market by credible, consistent and impartial enforcement of regulatory requirements and related standards.

assistant: 香港亦憑藉其以可靠、貫徹一致及不偏不倚的方式執行監管規定和相關準則而贏得世界級金融市場的美譽。
user: Please translate the following sentence from English to Chinese: This itself is unusual but means that as a regulator we must pay a lot of attention to the interests of minority shareholders.

assistant: 這一點本身並不常見，而我們身爲監管者，必須格外關注小股東的權益。
user: Please translate the following sentence from English to Chinese: In this way, those who break the laws of the securities sector will be unable to benefit from any gains made as a result of their illegal actions.

assistant: 這樣，那些違反證券業法律的人便無法從他們的非法行爲中獲得任何利益。
user: Please translate the following sentence from English to Chinese: This is reported with glee by such august organs of truth as the Financial Times and the Wall Street Journal.

assistant: 專門報道真相的權威刊物如《金融時報》和《華爾街日報》，都樂於對此加以報道。
user: Please translate the following sentence from English to Chinese: SFC is not just here to regulate and police the financial market, but also to actively help enhance its quality and status.

assistant: 證監會的存在不單是爲了監管金融市場及採取執法行動，同時亦爲了積極協助提升市場的質素及地位。
user: Please translate the following sentence from English to Chinese: For the world’s investors, they now have, through Hong Kong, a brand new investible currency. For their asset managers, they may create a new range of RMB products using the Hong Kong platform.

assistant: 環球投資者現可通過香港以一種全新的貨幣進行投資，而資產經理則可以香港爲帄臺，推出一系列嶄新的人民幣產品。
user: Please translate the following sentence from English to Chinese: The financial services industry is becoming increasingly vital to the Hong Kong economy.

assistant: 由此可見，金融服務業在香港經濟扮演愈趨重要的角色。
user: Please translate the following sentence from English to Chinese: The SFC has also stepped up its efforts in inspecting sponsors’ work in relation to listing applicants.

assistant: 證監會亦已加強其在對保薦人有關上市申請人的工作方面的視察。
user: Please translate the following sentence from English to Chinese: and  we obtain a full and proper understanding of the position of each bank and firm without taking short cuts that will prejudice our assessment or our legal obligations to act fairly.

assistant: 及全面及妥善地了解每家銀行和商號的個別情況，決不會另尋捷徑以致影響我們的 評估或違揹我們必須公正處事的法律責任。
user: Please translate the following sentence from English to Chinese: I have to point out that apart from a need to raise capital in the early days of China’s emergence, the reason for listing Mainland companies in Hong Kong was motivated by a conscious and deliberate policy to expose and subject Mainland enterprises to Hong Kong standards and fast track their transformation to world class companies that meet international norms on governance and performance.

assistant: 我必須指出的是，除了應付在中國冒起初期的集資需要外，內地公司來港上市還受到一項有意識及刻意的政策所推動，該政策的目的是要讓內地公司藉此機會接觸及遵從香港的標準，從而加速將內地公司轉化爲符合國際管治及表現常規的世界級公司。
user: Please translate the following sentence from English to Chinese: So you see, it is quite opportune that I should be sharing my thoughts with you today on measures for developing financial markets, in particular, the securities markets in the region.

assistant: 因此，大家可以看到，今天正是適當的時候由我與大家分享我對發展金融市場，尤其是區內證券市場所需的措施的一些看法。
user: Please translate the following sentence from English to Chinese: (d) Put clients’ interests first Fourthly, good investment advisers always put their clients’ interests first.

assistant: (d) 以客戶的權益爲先 第四，稱職的投資顧問時刻都以客戶的權益爲先。
user: Please translate the following sentence from English to Chinese: Communication with stakeholders – I have seen in recent years in many blue chip companies an increasing focus on the importance of investor relations.

assistant: 與利益相關者溝通－近年來，我看見很多藍籌公司越來越重視投資者關係的重要性。
user: Please translate the following sentence from English to Chinese: Profile of Hong Kong intermediaries The growth of the securities and futures intermediary market in Hong Kong is encouraging.

assistant: 香港中介人組成概覽 香港證券及期貨中介市場的發展亦是叫人鼓舞的。
user: Please translate the following sentence from English to Chinese: We were worried that the acquisition was a way to obtain a listing without going through the usual application process.

assistant: 我們憂慮，有關收購活動旨在於無需通過正常申請程序的情況下取得上市。
user: Please translate the following sentence from English to Chinese: We supported this innovative use of the Hong Kong RQFII quota by our managers, and our Mainland regulatory counterparts were fully behind our decision.

assistant: 對於這些公司以如此創新的方式運用香港的 RQFII 額度，我們表示支持，而本會的決定也得到了中國相關監管機構的全面認同。
user: Please translate the following sentence from English to Chinese: The combination of ample liquidity and higher risk appetites have driven the phenomenal growth in credit risk transfer instruments and leveraged buy-out activity.

assistant: 足夠的流動資金與更高的風險承受能力結合起來，驅使信貸風險轉移金融工具及槓桿收購活動錄得可觀增長。
user: Please translate the following sentence from English to Chinese: In the end, the final decision was to pilot the RQFII scheme on a small scale, ie, it would only be opened to Hong Kong licensed asset management subsidiaries of Mainland fund houses and securities companies.

assistant: 結果，內地最後決定小規模試行 RQFII 計劃，即只讓內地基金公司和證券公司在香港的持牌資產管理子公司參與。
user: Please translate the following sentence from English to Chinese: At the end of the journey, we may find that we do not have all the answers, but it is more important that we ask the right questions so that we focus our attention on the important issues.

assistant: 在旅程結束時，我們也許會發現未能就所有問題找到答案，但更重要的是我們能提出適當的問題，從而把注意力集中於重要的事項上。
user: Please translate the following sentence from English to Chinese: they are based on certain pre-selected criteria, which differ from one study to another, and influenced also by the perception of each institution which decides on the parameters of the studies.

assistant: 它們是建基於若干事先甄選的基準之上，會因應每項研究而有所不同，並同時受到釐定研究參數的每家機構的觀點所影響。
user: Please translate the following sentence from English to Chinese: These all point to the huge interest outside investors from all corners of the world have in the Mainland A-share market.

assistant: 由此可見，全球各地投資者對內地 A 股市場的興趣甚濃。
user: Please translate the following sentence from English to Chinese: Last but not least, the SFC will continue to educate investors – but everyone, including each and every member of the Institute, has a role to play in this.

assistant: 最後但同樣重要的是，證監會將會繼續教育投資者――但所有人，包括貴會每一位會員在內，都可在這方面發揮著一定的作用。
user: Please translate the following sentence from English to Chinese: 4. The largest 10 IPOs in Hong Kong were all Mainland enterprises.

assistant: 4. 歷來在香港進行的 10 宗最大規模的首次公開招股，全部都涉及內地企業。
user: Please translate the following sentence from English to Chinese: On 11 May 2007, the CBRC issued a new Notice which widens the scope of investment allowed under QDII and Mainland commercial banks are now allowed to invest in a wider range of asset classes, including equities in the Hong Kong stock market and equity funds authorized by the SFC.

assistant: 中國銀監會於 2007 年 5 月 11 日發出最新通知，擴大 QDII 之下的核準投資範圍，而內地商業銀行現可投資於更廣泛的資產類別，包括香港股票巿場上的股票及證監會所認可的股票基金。
user: Please translate the following sentence from English to Chinese: A similar regime will also be introduced for southbound trading under Stock Connect in the near future, allowing both regulators to more effectively combat illegal conduct including market manipulation.

assistant: 不久將來，也會爲港股通引入類似制度，讓雙方的監管當局能更有效打擊市場操控等違法行爲。
user: Please translate the following sentence from English to Chinese: Also included in the personnel expenses are provisions for pay rise and variable pay for our staff.

assistant: 最後，人事費用還包括爲員工加薪及浮動薪酬提撥準備。
user: Please translate the following sentence from English to Chinese: The stock markets around the globe fell further as investors feared the market situation would cause a slowdown in economic growth or possibly even a recession. The prices of commodities like gold and crude oil also tumbled.

assistant: 隨著投資者憂慮市況可能會導致經濟增長放緩甚或衰退，全球股票市場進一步下跌，而黃金及原油等商品的價格亦受拖累。
user: Please translate the following sentence from English to Chinese: But I must emphasise that intermediaries still need to comply with the suitability requirement whenever they make a recommendation or solicitation.

assistant: 不過，必須強調的是，中介人作出建議或招攬行爲時，仍須遵從產品合適性的規定。
user: Please translate the following sentence from English to Chinese: An intermediary has a fiduciary duty to its clients.

assistant: 中介人對其客戶負有受信責任。
user: Please translate the following sentence from English to Chinese: It was reported that the Mainland authorities are studying the possibility to launch ODI in RMB on a trial basis.

assistant: 據報道，內地監管當局正研究以試點形式推出人民幣境外直接投資的可行性。
user: Please translate the following sentence from English to Chinese: Cross-border connectivity Before we move on to the Town Hall Conversation, I would like to talk a bit about our relationship with mainland China.

assistant: 跨境聯繫在開始議事論壇的討論之前，我想談一談本會與中國內地的關係。
user: Please translate the following sentence from English to Chinese: We have ETFs with geographical exposure to Hong Kong, the Mainland, Japan, Korea, Russia, India, Taiwan and emerging markets generally.

assistant: 香港的 ETF 所投資的市場覆蓋多個地域，包括香港、內地、日本、韓國、俄羅斯、印度、臺灣及一般新興市場。
user: Please translate the following sentence from English to Chinese: He is there to implement the objectives set by the Board, and facilitate the effective functioning of the Commission.

assistant: 他的作用是要推行董事局訂立的目標，並促進證監會的有效運作。
user: Please translate the following sentence from English to Chinese: Our other financial intermediaries will also have much to offer.

assistant: 我們其他的金融中介人亦將貢獻甚多。
user: Please translate the following sentence from English to Chinese: The Outlook and Regulatory Challenges for the Fund Management Industry in Hong Kong 18 January 2007 Speech by Alexa Lam Executive Director Intermediaries and Investment Products Ladies and gentlemen, Thank you for inviting me to speak to you today.

assistant: 香港基金管理業的前景及監管挑戰 2007 年 1 月 18 日 講者中介團體及投資產品部執行董事 張灼華 各位先生、女士： 謝謝主辦機構邀請我今天向大家發言。
user: Please translate the following sentence from English to Chinese: – 102 red chip companies (e.g., China Mobile, China Unicom, etc)

assistant: – 102家紅籌公司（如中國移動、中國聯通等）
user: Please translate the following sentence from English to Chinese: The policy is to enhance transparency and accessibility of information regarding interests in REIT.

assistant: 該項政策旨在提升有關房地產基金權益資料的透明度和利便公衆取覽該等資料。
user: Please translate the following sentence from English to Chinese: But the world is also witnessing record global trade imbalances that have been easily financed in an environment where exchange rates have remained quite stable.

assistant: 然而，與此同時，全球正出現歷年來最大的貿易失衡，而有關方面一直都能在匯率仍頗爲穩定的環境中輕易地獲得融資，以紓解貿易失衡的現象。
user: Please translate the following sentence from English to Chinese: While there are differences between the legal frameworks in Hong Kong and the Mainland, both regulators have fully co-operated with each other as far as possible.

assistant: 儘管香港與內地的法律框架有所不同，兩地的監管機構均儘量與對方保持充分合作。
user: Please translate the following sentence from English to Chinese: I will give an overview of the regulatory philosophy – I know you have had a pretty heavy weight agenda so far, so a dose of regulatory philosophy will help your digestion.

assistant: 我會概述本會的規管理念――我知道大家已聽過多篇份量十足的講辭，現在就讓我來講述規管理念，以幫助各位消化一下。
user: Please translate the following sentence from English to Chinese: I understand that many of you have reservations over publicity.

assistant: 我明白到你們很多人對公開資料有所保留。
user: Please translate the following sentence from English to Chinese: Hong Kong as experimental ground for development of RMB investment products Let me now turn to a different but no less important subject.

assistant: 香港作爲開發人民幣投資產品的詴驗場 接下來，我想談談另一個同樣重要的題目。
user: Please translate the following sentence from English to Chinese: During this period, we saw 73 corporations coming in to apply for an asset management license.

assistant: 在這段期間內，我們的資料顯示有 73 家法團來港申領資產管理牌照。
user: Please translate the following sentence from English to Chinese: Next stage of growth Hong Kong has been granted an aggregate RQFII quota of RMB 270 billion.

assistant: 下一階段的增長香港獲授予合共 2,700 億元人民幣的 RQFII 額度，現已全數用盡。
user: Please translate the following sentence from English to Chinese: But our rules and regulations must be effective without creating unnecessary or undue compliance burdens, and our processes must be efficient and user friendly.

assistant: 然而，我們的法規必須有效，同時不應制造不必要及過於沉重的合規負擔，而我們的程序必須具有效率及易於遵從。
user: Please translate the following sentence from English to Chinese: The fourth industrial revolution is characterised by a range of new technologies that are fusing the physical, digital and biological worlds, impacting all disciplines, economies and industries, and even challenging ideas about what it means to be human.

assistant: 第四次工業革命的特點在於透過各式嶄新科技將現實世界、數碼世界與生物世界結合起來，這不但對各專業領域、經濟體系及行業造成影響，甚至正在挑戰“何謂人類”的觀念。
user: Please translate the following sentence from English to Chinese: These matters certainly have major implications for the Hong Kong funds industry.

assistant: 這些事態發展必然對香港基金業有重大影響。
user: Please translate the following sentence from English to Chinese: Expanding the use of the renminbi geographically, starting first with neighbouring and regional countries, then with other emerging market economies, before opening up the renminbi globally.

assistant: 擴大使用人民幣的區域，首先是在周邊及區內國家進行，然後擴展至其他新興市場 經濟體，最後人民幣成爲全球自由流通的貨幣。
user: Please translate the following sentence from English to Chinese: 2. The financial year 2005/06 has been a very good year in terms of market activities.

assistant: 2. 2005/06 財政年度就巿場活動而言是暢旺的一年。
user: Please translate the following sentence from English to Chinese: Preconditions for internationalisation of the RMB For the RMB to become an internationally-accepted and circulated currency, there are two key preconditions.

assistant: 人民幣走向國際化的先決條件 人民幣要在全球獲得接納及流通，存在兩項先決條件。
user: Please translate the following sentence from English to Chinese: I think there could not be a more appropriate occasion to discuss my role as SFC Chairman than a luncheon of the Institute.

assistant: 我認爲在香港董事學會午餐會這個場合上談論我作爲證監會主席的角色，是最適合不過的了。
user: Please translate the following sentence from English to Chinese: Both CEPA and QDII will attract tremendous capital flows to Hong Kong, which will also bring promising opportunities to the financial planners in Hong Kong.

assistant: CEPA 和 QDII 將吸引龐大資金流入香港，繼而爲香港的財務策劃師帶來有利的發展機會。
user: Please translate the following sentence from English to Chinese: They have been thoroughly debated in the legislature and endorsed by the Commission Board during the passage of the Bill.

assistant: 該等角色和職責已經在通過草案的過程中，在立法會內徹底地辯論過和得到證監會董事局的贊同。
user: Please translate the following sentence from English to Chinese: 13. It is quite common for a Mainland listing to involve the restructuring of a large State-owned enterprise.

assistant: 13. 很多時候，內地公司在上市前會涉及一家大型國有企業的重組。
user: Please translate the following sentence from English to Chinese: 12. With regard to staff remuneration, Members will note that there has not been any general salary increase since April 2001, and we did not make any variable pay award to our staff in 2001/02 and 2002/03.

assistant: 12. 就職員薪酬而言，各位議員會注意到本會自 2001 年 4 月起便沒有作出任何整體薪酬調整，而我們在 2001/02 年度及 2002/03 年度亦沒有向本會職員發放浮動薪酬。
user: Please translate the following sentence from English to Chinese: Statutory backing would add teeth to the regulation of listed companies in Hong Kong.

assistant: 賦予有關規則法定地位可加強對香港上市公司的規管力度。
user: Please translate the following sentence from English to Chinese: Our regulatory framework for retail hedge funds provides a good example of how we seek to strike the right balance between giving investors sufficient access to appropriate investment choices while ensuring a proper level of investor protection.

assistant: 我們就零售對沖基金制訂的監管機制，正好顯示出我們如何致力在爲投資者提供充分而適當的投資選擇與確保投資者獲得妥善的保障之間謀取適當的平衡。
user: Please translate the following sentence from English to Chinese: Stress testing and scenario analysis in this regard are important.

assistant: 在這方面進行壓力測試及情景分析是十分重要的。
user: Please translate the following sentence from English to Chinese: If I was also asked then where I thought Hong Kong would be in 15 years’ time, I probably would have woefully underestimated the important role that Hong Kong currently plays in the global financial arena today.

assistant: 又或者如果當時問我，對 15 年後的香港有甚麼看法，相信我會嚴重地低估了香港今時今日在全球金融舞臺上擔當的重要角色。
user: Please translate the following sentence from English to Chinese: We did this because of the globalisation of fund management firms and the growing trend for fund houses to set up local affiliates close to the markets in which they invest.

assistant: 我們是因應基金管理公司日趨全球化，加上愈來愈多基金公司在投資市場鄰近地點設立當地聯屬公司，故此採取這項措施。