Hong Kong's financial sector was recognized as practicing ethical business by international standards, a senior financial official said on November 2.

"But we must continuously upgrade ourselves in this respect as ethical business practices will become an increasingly important yardstick for international investors in risk assessment," said Alec Tsui Yiu-wa at a press conference introducing a guide book to uphold ethical standards among financial practitioners.

The book titled "Ethics in Practice" has been published jointly by the Hong Kong Independent Commission Against Corruption (ICAC), market operators and industry bodies of the securities, futures and investment sectors, according to Tsui, chairman of the organizing committee of the book.

The book, the first locally produced ethical guide for financial practitioners in Hong Kong, is published as part of the two-year professional ethics program launched last year.

A total of 10,000 copies of the book have been published in English and Chinese. (Xinhua)