, rather than focussing purely on the most profitable activities and market segments. 31. hong kong is a capitalist, free - market place. but the regulatory authority works not only for the industry but also for the public. and our population has a keen sense of community and fairness. 32. in the last 10 years, anyone concerned with public policy, corporate governance and business regulation has noticed rising expectations of good corporate citizenship. i took over as chief executive of the hkma just a few months after the sfc and hkma pushed through a solution to the lehman minibonds episode. i think everyone learned some valuable lessons from that. 33. one market segment we need to consider is the elderly and low - income retail customer. 34. some of these retail clients obviously have limited savings to deposit and limited banking 3 / 5 bis central bankers'speeches needs, and the reality is that they will not provide banks with much fee or interest income. however, the community expects banks to provide them with basic services, essentially on a pro - bono basis. 35. some of them have difficulties using technology, and cost - saving service - delivery channels such as atms, online banking or mobile device. we could try harder to persuade – or even compel – the elderly to adopt modern technology, in the name of efficiency or modernity. but as i say, hong kong is a compassionate community, and we need to be in step with those values. 36. we will probably need to consider a similar tolerant approach in future with small businesses that are perhaps slow to adopt e - payment systems. 37. that brings us to the overall segment of start - ups, and companies moving into hong kong. these clients have complained a great deal about the difficulty of simply opening corporate accounts. 38. these complaints were potentially affecting hong kong ’ s reputation as a welcoming place for business. we took this very seriously, and we believe we managed to sort out some of the underlying problems. 39. but this is a classic example of the dilemma we all face – as industry players and as the regulator. we do not want awkward due diligence and know - your - customer procedures. but we cannot accept the reputational harm and the other possible costs if one of our leading banks cuts corners and is then found to be handling funds from illicit activities. 40. this challenge – balancing risk – will continue. technology 41. perhaps the main possible solution to the problem of growing complexity is technology. and that brings me to

together, we believe that adb and its partners in the region will go a long way in mobilising funds and building the capacity of developing members in delivering high - quality infrastructure projects. as an international financial and business centre in the region, hong kong, china has an active role to play in supporting and promoting infrastructure investment in asia. corporates, as well as national and multilateral development agencies including adb and ifc, have been making extensive use of hong kong, china ’ s deep financial markets in raising funds for infrastructure projects. joint ventures and funds have been set up in hong kong, china for identifying opportunities and managing investments in infrastructure projects in the region. we have also been seeing increasing offshore issuance of renminbi ( rmb ) bonds in our market to finance infrastructure projects. with the increasing use of rmb in trade and investment in the region, it is expected that the use of rmb in infrastructure financing will continue to rise. hong kong, china, as the largest offshore rmb centre with a wide range of rmb financial services, is well placed to support these infrastructure financing activities denominated in rmb. besides financial services, hong kong, china also has a pool of bis central bankers ’ speeches talents in professional services like construction and planning, surveying, engineering, project management, accounting, legal and arbitration, logistics, etc. firms and consultants of hong kong, china are well placed to take part and support infrastructure developments in the region. substantial investment is needed in many developing asian economies to break the infrastructure bottlenecks and move forward to the next stage of development. increasing cross - border connectivity will also promote greater trade and economic integration, unlocking the region ’ s growth potential. we are pleased to see that adb and national governments are making this a priority and taking meaningful steps to promote infrastructure investment in the region. as a member of the region, hong kong, china stands ready to contribute to this work. bis central bankers ’ speeches