Chinachem Group Supports Child Development Matching Fund to Combat Intergenerational Poverty

Initiative Focused on Helping Underprivileged Young People Develop Soft Skills and Build Tangible Assets

HONG KONG SAR – Media OutReach – 3 September 2021
– The prolonged COVID-19 pandemic has adversely affected many people’s
livelihoods and further entrenched inequalities of income, health and education
across the city. Hong Kong is one of the wealthiest cities in the world, yet the
city’s poor families have doubled in number over the past two years, with
almost 302,000 people living in low-income households at the end of March 2021[1]. To help address the issue
of intergenerational poverty and other deprivations, as well as reduce
inequality and spur economic growth, Chinachem Group (the Group) has donated a
matching sum of HK$960,000 to the Child Development Matching Fund (CDMF) to
benefit 200 young people in the Tsuen Wan and Kwai Tsing Districts for the year
2019/20, equivalent to HK$4,800 each. The Group takes seriously its role as a
partner and supporter of local communities and strives to bring positive change
to those in need and support the community through the challenges brought about
by the pandemic.

Photo 1: Four beneficiary youths
from the Tsuen Wan and Kwai Tsing Districts  presented on behalf of CDMF a written poem to
Chinachem Group which celebrates the 60^th anniversary as a token of
appreciation. Pictured here are Sylvia Chung, Chief Business Impact Officer of
Chinachem Group (7^th from right), Amy Chan, Chairman of Child Development
Matching Fund (6^th from right), Mary Wong (8^th from
right), Director of Legal of Chinachem Group, Mason Wu, Director of Child
Development Matching Fund (7^th from left) and representatives of Chinachem
Group, CDMF and representatives from The Praise Assembly (Tsuen Wan).

Photo 2-3: CDMF beneficiary students,
James and Stella present their journey and their experience gained during the
programme and soft skills and tangible assets they gained. 

The Group has been a long-time
supporter of the CDMF, which was founded in 2009 to address the issue of intergenerational
poverty in Hong Kong and support and complement the HKSAR Government’s Child
Development Fund (CDF). The CDMF provides valuable support for underprivileged
youth in society. It runs three-year programmes during which the participants,
aged 10 to 16, are required to make personal savings of HKD200 per month for
two years, amounting to HKD4,800 in total. These personal savings are matched
by community donations, including the Chinachem matching fund, plus a
Government bonus of equal amount. This means that the young people will ultimately
have a total of HKD14,400 (HKD4,800 x 3) to spend on areas that support their
personal growth and development.

To connect with some of the
outstanding beneficiaries in the Tsuen Wan and Kwai Tsing Districts and mark the finale of
the 2019/20 programme, four participants along with their families and
their mentors were recently invited to a tea gathering ceremony at Nina Hotel, where they were
joined by the Chairman and other officers of CDMF, as well as representatives
of Chinachem Group and CDF operator The Praise Assembly (Tsuen Wan). During the
ceremony the four youngsters shared how they used their matching fund to
support their growth and development, ranging from computer programming,
language learning to the purchase of facilitating equipment. James Cheung
wishes to become a computer engineer in the future. He spent part of his
matching fund in a computer programming and game design course. Stella Kao
wants to work in the medical field after her graduation. Her wish is to join an
international rescue service. She spent some matching funds to enrich her
foreign language abilities so she can have better communication skills when
working overseas. Wing Wong wishes to develop her future career in the art and
multi-media industries. She applied for a course in film-editing and bought
some related software to enhance her computer to practice the relevant skills.
Another youth Yen Wong, on the other hand, used part of her matching fund in a
music course to improve her flute performance skill. 

Sylvia Chung, Chief Business
Impact Officer of Chinachem Group, noted during the tea gathering that the
prolonged pandemic had continued to deal heavy blows to local economic
activities. “We have supported the CDMF since 2018. As a part of the community,
the Group understands the importance of being inclusive and supportive of the
needs of its neighbours, in this case young people in the Tsuen Wan and Kwai Tsing
Districts,” she said. “Two key areas of our community programmes focus on
relief of poverty and the advancement of education. Through this programme, we
hope our targeted youths can develop good savings and financial habits, to make
better planning for their future. We always aim to make a positive contribution
to society through our adherence to the ‘Triple Bottom Line’, a commitment that
all our activities will benefit People, bring Prosperity to the community and
preserve the Planet.”

Explaining
the work of CDMF, its Chairman Amy Chan said “CDMF helps youths build ‘tangible
assets‘ through building a
savings habit and learning wealth management. CDMF also opens opportunities for
them to build ‘intangible assets‘.
All CDMF beneficiary youths, once they reach the aged of 16, will be placed with
different industries for work experience arranged by the Child Development
Initiative Alliance, a CDMF strategic partner, to widen their exposure and
horizons, and enhance their soft skills for upward mobility, eventually enabling
them to come out of poverty. We are extremely grateful to Chinachem Group for
supporting this poverty alleviation policy. This will bring a positive impact
to our needy youths and help them develop talents for the sustainable growth of
our economy. This is made possible by the tri-partite co-operation between the
Government, business and the community to nurture our next generation.” 

For more information on how
the Chinachem Group is caring for local communities, please visit its website
here.

Photo download link: https://chinachemcloud-my.sharepoint.com/:f:/g/personal/samleung_chinachemgroup_com/EqATEtZuSN9EmZL8AJZP6BgB7Xh_JGRxaybqSscOGIG4Xw?e=P5iIfe