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The HKSAR Government is fully committed to the development of the QF in supporting lifelong learning which is conducive to enhancing capability and competitiveness of the local workforce.  It was announced in the 2014 Policy Address to establish a dedicated fund of $1 billion, namely the QF Fund, to provide a steady source of income to support the sustainable development and implementation of QF. Established on 1 September 2014, the QF Fund is an endowment fund to support different schemes/initiatives for the sustainable development and implementation of QF, including but not limited to the following two areas:

The Government further injected $1.2 billion into the QF Fund in March 2018 for the continued implementation of various initiatives under the QF.

The Steering Committee on Promotion of VPET and QF is established on 1 September 2020.  In addition to the functions of the previous Steering Committee on QF Fund, the current Steering Committee will advise SED on the overall strategy to promote VPET, and the development, implementation, and promotion of QF to support a qualifications system for VPET.

Qualifications Framework Fund Financial Statements

LegCo Business - Panel on Manpower