[S&P: Hong Kong’s first five-year plan opens up new growth space for the bancassurance industry] On September 22, the rating agency S&P issued a report stating that Hong Kong’s banks and insurance companies will find new business growth opportunities in Hong Kong’s first five-year economic development plan, covering deeper involvement in the Chinese mainland market, innovative fields, and more complex risk solutions. S&P Global Ratings expects these greater growth opportunities may require banks and insurance companies to strengthen risk management. The bank believes that Hong Kong’s policy goals of promoting growth and expansion will bring opportunities for banks to provide financing for emerging growth areas such as technological innovation, digital financial infrastructure, cross-border trade and green transformation.