Hong Kong, China

In 1997, Hong Kong, China, enacted a Sex Discrimination Ordinance that prohibits discrimination on the grounds of sex, marital status or pregnancy. While people acknowledge that gender stereotyping still exists, the popular belief is that it is not a particularly serious problem.

2000: Mandatory Provident Fund Schemes (Exemption) Regulation; provides for contractingout of the Mandatory Provident Fund Schemes Ordinance and defines rules with which contractedout occupational plans must comply.

1998: Mandatory Provident Fund Schemes (General) Regulation; further implements the Mandatory Provident Fund Schemes Ordinance, includes limits on the investment of scheme assets, requirements on trustees and other service providers and rules concerning enrolment, contributions, portability and withdrawal of accrued benefits and a compensation fund to be established by the Mandatory Provident Fund Schemes Authority (MPFA). 1995: Mandatory Provident Fund Schemes

In the course of the modernisation of the insolvency system in many jurisdictions, efficiency and effectiveness have been generally accepted as two basic principles. These principles are reflected in the recent World Bank Principles and Guidelines and the Model Law on Cross-Border Insolvency. The successful development of an insolvency regime depends crucially upon the competence and integrity of the appointed insolvency administrators.

The theme of creditor participation can be looked at from two angles: the legal framework and the commercial realities. Focusing on China and Hong Kong, China, there are two questions to answer: 1) do creditors participate?; and 2) do creditors want to participate? The answer to both of these questions is: probably not.

Funded pension provision in Hong Kong is done through two main venues: a voluntary system of privately managed funds and a mandatory system comprised of privately managed, provident funds – the Mandatory Provident Fund System (MPF).