Eddie Yue Reappointed as Chief Executive of Hong Kong Monetary Authority

Eddie
Yue
has
been
reappointed
as
the
Chief
Executive
of
the
Hong
Kong
Monetary
Authority
(HKMA)
for
another
five-year
term,
starting
in
October
2024.
The
announcement
was
made
by
the
Financial
Secretary
on
July
26,
2024,
according
to
the

Hong
Kong
Monetary
Authority.

Yue’s
Response
to
Reappointment

In
response
to
his
reappointment,
Yue
expressed
gratitude
for
the
Financial
Secretary’s
confidence
and
trust.
He
stated,
“I
am
honoured
to
be
given
the
opportunity
to
continue
to
serve
Hong
Kong
in
this
important
role.”

Yue
highlighted
the
challenges
Hong
Kong
has
faced
in
recent
years,
including
social
unrest,
the
COVID-19
pandemic,
a
complex
geopolitical
landscape,
and
rising
interest
rates.
Despite
these
hurdles,
he
noted
that
Hong
Kong’s
financial
system,
including
the
Linked
Exchange
Rate
System
and
the
banking
sector,
has
remained
robust
and
stable.

Achievements
and
Future
Plans

Yue
emphasized
the
HKMA’s
achievements
over
the
past
five
years,
including
the
resilience
and
growth
of
the
financial
sector.
He
commended
the
HKMA
team
for
their
dedication
and
professionalism
in
maintaining
stability
and
supporting
the
real
economy
during
challenging
times.

Looking
ahead,
Yue
acknowledged
the
ongoing
complexities
in
the
macroeconomic
environment
and
international
financial
landscape.
He
committed
to
remaining
vigilant
and
promoting
further
development
while
safeguarding
monetary
and
financial
stability.
Yue
also
mentioned
plans
to
deepen
connectivity
with
Mainland
markets
and
enhance
Hong
Kong’s
role
as
a
global
offshore
RMB
hub.

Additionally,
Yue
highlighted
the
importance
of
promoting
financial
technology
and
sustainable
finance
to
keep
Hong
Kong
at
the
forefront
of
global
trends.
He
stated,
“Consolidating
and
expanding
Hong
Kong’s
position
as
an
international
financial
centre
is
the
best
way
for
us
to
contribute
to
the
prosperity
of
our
country
and
Hong
Kong.”

Yue’s
reappointment
underscores
the
Hong
Kong
government’s
confidence
in
his
leadership
and
the
HKMA’s
strategic
direction
amid
a
rapidly
changing
financial
landscape.

Image
source:
Shutterstock