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.