Alvin Lang
Jul 26, 2024 08:01
Eddie Yue has been reappointed because the Chief Govt of the Hong Kong Financial Authority for an additional five-year time period, starting in October 2024.
Eddie Yue has been reappointed because the Chief Govt of the Hong Kong Financial Authority (HKMA) for an additional five-year time period, beginning in October 2024. The announcement was made by the Monetary Secretary on July 26, 2024, based on the Hong Kong Financial Authority.
Yue’s Response to Reappointment
In response to his reappointment, Yue expressed gratitude for the Monetary Secretary’s confidence and belief. He acknowledged, “I’m honoured to be given the chance to proceed to serve Hong Kong on this necessary position.”
Yue highlighted the challenges Hong Kong has confronted lately, together with social unrest, the COVID-19 pandemic, a posh geopolitical panorama, and rising rates of interest. Regardless of these hurdles, he famous that Hong Kong’s monetary system, together with the Linked Trade Charge System and the banking sector, has remained sturdy and steady.
Achievements and Future Plans
Yue emphasised the HKMA’s achievements over the previous 5 years, together with the resilience and development of the monetary sector. He counseled the HKMA workforce for his or her dedication and professionalism in sustaining stability and supporting the actual economic system throughout difficult occasions.
Wanting forward, Yue acknowledged the continued complexities within the macroeconomic setting and worldwide monetary panorama. He dedicated to remaining vigilant and selling additional improvement whereas safeguarding financial and monetary stability. Yue additionally talked about plans to deepen connectivity with Mainland markets and improve Hong Kong’s position as a world offshore RMB hub.
Moreover, Yue highlighted the significance of selling monetary expertise and sustainable finance to maintain Hong Kong on the forefront of worldwide tendencies. He acknowledged, “Consolidating and increasing Hong Kong’s place as a world monetary centre is the easiest way for us to contribute to the prosperity of our nation and Hong Kong.”
Yue’s reappointment underscores the Hong Kong authorities’s confidence in his management and the HKMA’s strategic path amid a quickly altering monetary panorama.
Picture supply: Shutterstock
