Hong Kong, China, November 23, 2020: The Sports Federation and Olympic Committee of Hong Kong, China has thanked the Home Affairs Bureau for funding a team of experts to examine the governance structure and operations of National Sports Associations.
At a briefing held on Monday, November 23, it was announced that the Home Affairs Bureau of the SAR (Special Administrative Region of China) government had allocated HKD 5 million (USD 640,000) per year for five years to enhance the corporate governance of NSAs.
This programme will be conducted through a dedicated NSA Corporate Governance Team under the Sports Federation and Olympic Committee. The team began its operation last month.
The briefing was held at the Jockey Club Lecture Theatre in Olympic House, Causeway Bay, to explain the role and responsibilities of the new corporate governance team and the cooperation between the team and the member sports associations.
In his opening address, Olympic Committee President Timothy Fok said: “I am glad that, from 2020-21 onwards, the Home Affairs Bureau has been very supportive to the SF&OC by providing extra funding in setting up a new, dedicated team to examine the governance structure and operation of all NSAs.
“An Independent Steering Committee consisting of professionals will be set up in due course to monitor and review the progress and the work of the team. The team aims to assist member associations to find areas of enhancement of corporate governance.”
He added: “The ultimate goals are to improve member associations’ corporate governance, monitoring mechanisms and transparency and accountability of their operation; this, in turn, targets excellence in sports professional development.”
The briefing attracted office bearers and senior management staff members of almost 60 NSAs who attended in person or via Zoom.