The Financial Services Development Council (FSDC) has completed its incorporation as a limited company by guarantee in September 2018, granting it more flexibility to perform its functions under three core streams: policy research, market promotion, and talent development. During the review period, the FSDC conducted research and published five reports that are instrumental in the further development of Hong Kong's financial services industry. These reports covered a variety of topics relevant to the industry, including maritime leasing, digital identification and Know-Your-Client Utilities (KYCU), environmental, social and governance (ESG) strategy, life insurance, and technology. The FSDC will maintain its role as a high-level, cross-sectoral advisory body to the Government.