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Government appoints directors to HKEX Board
     The Government announced today (February 24) that the Financial Secretary has appointed Mr Joseph Yam Chi-kwong and Mr Carlson Tong Ka-shing as members of the Board of Directors of the Hong Kong Exchanges and Clearing Limited (HKEX) to replace Mr Rafael Gil-Tienda and Mr Stephen Yiu Kin-wah, and re-appointed Ms Nisa Leung Wing-yu as a member of the Board of Directors of the HKEX. The term of relevant appointments and re-appointment is around two years, from the conclusion of the Annual General Meeting (AGM) of the HKEX in 2023 until the conclusion of its AGM in 2025. 
     The Financial Secretary, Mr Paul Chan, said, "The appointments by the Government to the Board of Directors of the HKEX represent an important safeguard of the interest of the public. The three appointees are familiar with financial markets and relevant service sectors, and also have vast experience in public services. I am confident that they will work closely with the other directors and together further the development of Hong Kong to become a more vibrant and diversified international fundraising platform with a larger scale.
     "Mr Yam is a highly esteemed figure in the financial services industry. As the former Chief Executive of the Hong Kong Monetary Authority, he introduced various strategic reforms which made remarkable contribution to Hong Kong's financial development and stability, and laid solid foundation that has developed Hong Kong into an offshore Renminbi business hub. His expertise and varied experiences in the money market and financial services fields will help the HKEX expand its businesses and strengthen risk management.
     "Mr Tong has very extensive experiences in serving the financial services sector and demonstrated exemplary leadership in his former capacity as the Chairman of the Securities and Futures Commission (SFC). He led the SFC in making notable achievements on both market development and regulation fronts. I believe that his immense knowledge of and experiences in the operation of the financial market and regulation of securities-related activities will contribute to the HKEX in further enhancing its competitiveness and expanding its business."
     Mr Chan also expressed his sincere gratitude to the two retiring directors, Mr Gil-Tienda and Mr Yiu, for their outstanding achievements in the development of the HKEX during their respective eight-year and six-year tenures. 
     The above appointments are made in accordance with Section 77 of the Securities and Futures Ordinance. The Board of Directors of the HKEX comprises a maximum of six directors appointed by the Financial Secretary, a maximum of six directors elected by shareholders, and the Chief Executive of the HKEX. The other incumbent directors appointed by the Financial Secretary are Mrs Laura Cha May-lung, Mr Benjamin Hung Pi-cheng and Mrs Susan Chow Woo Mo-fong.
Ends/Friday, February 24, 2023
Issued at HKT 17:00
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