Financial skills for young children

HSBC Holdings plc and JA Worldwide(r) have launched a US$ 3.4 million, three-year, global program to teach basic financial skills to 7 to 11-year-old students. JA More than Money will expand globally as one of JA Worldwide's most successful youth financial literacy programs. During the first year, the program will be launched in 15 countries and districts with Hong Kong being one of the key sites.

This strategic commitment is designed to build upon the breadth and depth of HSBC's commitment to education and its support for JA Worldwide. At HSBC, we have always believed that education is essential for a successful society.

Financial education plays a pivotal role, especially in Hong Kong, as it is important that we equip our children with the financial literacy skills they need to make wise decisions in how they spend and save their money.

HSBC is committed to investing in and upgrading financial literacy to build a sustainable future for the local community," said Teresa Au, Head of Corporate Sustainability Asia-Pacific Region, The Hongkong and Shanghai Banking Corporation Limited.

JA More than Money will teach students about earning, spending, sharing and saving money and about businesses they can start or jobs they can perform to earn pocket money.

When assessed by an independent evaluator in 2007, results showed conclusively that the 7 to 11-year-old students who had participated in this curriculum in the United States demonstrated significantly greater knowledge and retention of financial concepts compared to their non-participating peers.