2011, the priority was focused on financial education in schools. since then, we work in close partnership with the portuguese ministry of education, which made financial education a compulsory subject in schools. i believe that this is the key approach. reaching a whole generation and developing responsible financial behaviour for future consumers of financial products is a long - term project. to provide support for financial education in schools, we published four financial education workbooks for the different grades. these workbooks are devoted to the implementation of core financial competencies for children and young people. we also developed and implemented several certified training courses available for teachers, among a set of different initiatives. micro, small and medium - sized enterprises have been in our financial literacy agenda since 2014. following the publication of the financial competences framework, the ongoing trainers programme is underway and carried out with specialised institutions within the ministry of economy. other important milestones deserve to be mentioned, such as the launch of a financial education programme for the unemployed in partnership with the portuguese institute of employment and vocational training. also, the set of e - learning courses to promote financial literacy at the workplace in conjunction with various bodies of the ministry of labour, solidarity and social security. these initiatives highlight the importance of partnerships with stakeholders that are close to different target groups. financial literacy initiatives have to be tailor - made to the needs and abilities of the different groups. we have to promote a more inclusive society, one that is more confident in managing its financial future in a changing financial system. by improving the financial well - being of citizens, we are promoting financial stability and the resilience of the economy. thank you for your attention. 3 / 3 bis - central bankers'speeches

, whatever the cause of this difficult situation, whether or not it arose from events outside the control of the authorities, it is considered, and rightly so, the responsibility of a caring government to do what it can to relieve these grievances. refusal or reluctance to do so, even for very sound reasons in the larger long - term public interest, is not looked upon kindly. even in cases where the authorities managed to be innovative, perhaps to an extent not normally expected of bureaucrats, and did the right thing, there is always the easy, popular but legitimate question of why action was not taken earlier. the political process of monetary management 6. in hong kong, the grievances of the community are enthusiastically and effectively aired by politicians. whether directly or indirectly elected, the politicians have the mandate of the people and the people of hong kong are well served by them. but one of the peculiarities of the system of hong kong is that the politicians, although having the mandate of the people, do not actually have the authority to direct government policies. a consequence of this is that the administration is always kept on its toes, much more so than in many other jurisdictions. there are lively debates on almost all issues of significance, not to mention those that are controversial. this obviously has the benefit of ensuring that the administration performs to its best ability. but the inevitable disadvantage is simply that there can be too much of everything, to the extent of eroding rather than enhancing the efficiency and effectiveness of government. but this is the reality of hong kong today and we all have to live with it. 7. the management of any public issue of significance involves first getting the technicalities right, then explaining them patiently and clearly to all those concerned, and then handling skillfully the politics surrounding it. more often than not, handling the politics is the most difficult part. you can be 100 per cent right technically and you can spend all day explaining all the fine details, relating them to the policy objective and the public interest. but if you are not skillful enough in the handling of the politics of the issue, particularly an issue in whose success the confidence of the people plays a crucial part, all your efforts might be wasted. a totally different perception than that intended could well result, undermining the chance of success of what you are trying to achieve. 8. let me focus specifically on the management of the political process concerning monetary issues. i must say that this task is, for the hk