senior management of banks to share and cherish the same value as we do in terms of treating customers fairly. in this connection, we also believe that it is crucial that banks should review and revamp their incentive systems so as to avoid rewarding staff on the basis of sales volume and commission earned, which would bis central bankers ’ speeches nurture a tendency to push financial products to customers to meet business targets without giving sufficient regard to the interests of the customers. this change in the incentive system to reduce mis - selling is taking place in the more advanced markets, and hong kong must not lag behind if we wish to continue to pride ourselves as one of the leading international financial centres. in terms of helping the customers to become smarter and more responsible, we need to enhance the financial literacy of our citizens. surely there is plenty of scope to include financial literacy education in our school and university curriculum. in addition, the hkma, in collaboration with key stakeholders such as the consumer council as well as the investor education centre set up by the sfc, is going to launch a new public education programme that seeks to help bank customers become “ smart and responsible ”. the first of a series of programmes will be rolled out in the next few months. ladies and gentlemen, i am sure all of you are frequent users of banking services. moreover, as many of you here are accounting, financial and business leaders of hong kong, i am sure you will also share my view that enhancing the financial literacy of our citizens is a difficult but worthy task, requiring the collaborations of all sectors of the community to work closely together. you are well positioned to help our public education programme, and we in the hkma look forward to your continued support and advice. thank you. bis central bankers ’ speeches

the price discovery capacity of the carbon market and enhance shanghai ’ s position in global carbon pricing. fifth, we should stay cool - minded and rational, and promote a stable green and lowcarbon transition. according to the calculation of major institutions both at home and abroad, the investment needed for achieving carbon peaking and carbon neutrality is between rmb150 to 300 trillion, equivalent to an average annual investment of about rmb 3. 75 to 7. 5 trillion. such a vast amount of money brings about great investment opportunities, which have drawn the attention of investors in and out of china. it is obvious that green industry is thriving, but we need to stay cool - minded and rational and be wary of “ a flash in the pan ”. there are numerous examples of economic and financial risks arising from the irrational exuberance of emerging industries in the international community, such as the bust after railway investment boom in the mid - 19th century, the bubble burst of radio, electricity, automobile and petrochemistry in 1929, and the internet bubble burst in 2001. all the examples revealed potential social and economic costs of irrational investment. on our way towards achieving the “ 30 · 60 ” goal, all parties should stay cool - minded and prudent, make rational decisions and strengthen the risk monitoring and early warning of production capacity, so that smooth, balanced and ordered progress will be made in guaranteeing long - term green development. “ the water ’ s wide at the full tide ; a sail with ease hangs in soft breeze. ” in the course towards green and low - carbon development, the financial sector will keep in mind that “ a big country shares larger responsibility ” and put it into practice. the pbc will join hands with all counterparts to promote the high - quality development of china ’ s economy and society. we will contribute our financial wisdom and strength to achieving the “ 30 · 60 ” goal. thank you. 4 / 4 bis central bankers'speeches