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    The SFC was created in 1989 in response to the stock market crash of October 1987. Following the Asian financial crisis of 1997, the regulatory framework was further improved. A comprehensive Securities and Futures Ordinance (SFO) was implemented in 2003, which expanded our regulatory functions and powers. Under the mandate of the SFO, we work to foster orderly securities and futures markets and to protect investors. We also help promote Hong Kong as an international financial centre and a key financial market in China.

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