The Chief Executive approved, on May 4, Mrs Laura Cha Shih May-lung's appointment as Chairman of the Hong Kong Exchanges and Clearing Limited (HKEX) with immediate effect.

     The approval was made under the Securities and Futures Ordinance (SFO). Mrs Cha's chairmanship will coincide with her term of appointment as a director of the HKEX Board, which will expire at the end of the 2020 Annual General Meeting of the HKEX.

     Mrs Cha was elected as Chairman of the HKEX by the directors at the board meeting on April 26, 2018. Section 69(1) of the SFO provides that no person shall be the chairman of a company that is a recognised exchange controller unless he has the approval in writing of the Chief Executive. By virtue of Schedule 10 to the SFO, the HKEX is deemed to have been recognised as an exchange controller under section 59(2) of the SFO.

     Announcing the approval today (May 7), the Financial Secretary, Mr Paul Chan said, "We are confident that with Mrs Cha's leadership, the HKEX will strive to further enhance our market quality and competitiveness, and strengthen our position as the premier capital raising and risk management platform in the region."

     Mrs Cha was appointed by the Financial Secretary as a director of the HKEX Board in February 2018 for a two-year term under the SFO.

Ends/Monday, May 7, 2018
Issued at HKT 16:30

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