Eddie Yue poised to stay vigilant amid complex future after reappointed as HKMA chief

Financial Secretary Paul Chan announced the reappointment of Eddie Yue as the Chief Executive of the Hong Kong Monetary Authority (HKMA) for another five-year term, effective from Oct. 1 this year.

In response, Yue expressed that he is deeply honored to continue serving and contributing to Hong Kong in this significant role. He thanked the HKMA team for their support over the past five years, as well as the industry and the people of Hong Kong for their trust and support.

Yue noted that although Hong Kong's financial system has faced multiple challenges in recent years, such as social unrest, the COVID-19 pandemic, complex geopolitical issues, and high interest rates, the financial system, including the linked exchange rate system and the banking sector, has remained very stable.

"The financial industry has continued to develop, consolidating and enhancing Hong Kong's status as an international financial center."

Looking ahead, Yue stated that the macroeconomic environment, international financial situation, and geopolitical issues will remain complex and volatile in the coming years. He emphasized the need to remain highly vigilant and to maintain the stability of the monetary and financial systems while also providing financial services and supporting the real economy.

Yue mentioned that the continued deepening of national reforms offers significant opportunities for Hong Kong.

"The HKMA will leverage its unique advantages to promote connectivity with the mainland and enhance Hong Kong's role as a global offshore Renminbi hub, and also seize opportunities in financial technology and green finance to keep Hong Kong at the forefront of global financial development," he added.

Yue looks forward to working with the industry to create greater development space for Hong Kong's financial sector, strengthen and enhance Hong Kong's status as an international financial center, and contribute to the future development of both the country and Hong Kong.