A review of features and outcomes of the Hong Kong Child Development Fund

Highlighting the policy background and programme innovations of the HKD 300 million Child Development Fund Pioneer Projects, this article presents results from a quasi-experimental study of 750 adolescents in the first-batch projects. The projects combine a matched-savings programme, a mentorship programme and personal development plans. These features demonstrate the impact of financial and non-financial assets developed over a three-year period, so that participating children are more likely to leave poverty in the long term. Findings are largely positive, showing a high rate of saving completions and identifying programme effects on life-goal planning. Reciprocal and mutual trust between mentor and mentee are associated with adolescent psychosocial development. Furthermore, the community becomes more prepared to use an asset-building approach to alleviate intergenerational poverty. Nevertheless, the results suggest that training and support for mentors and financial literacy for parents need to be strengthened to increase the programme's influence.