Chief Executive approves chairmanship of HKEX
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The approval was made under the Securities and Futures Ordinance (SFO) (Cap. 571). Mr Tong's chairmanship will coincide with his term of appointment as a member of the Board of Directors of the HKEX, which will conclude at the end of the 2025 Annual General Meeting of the HKEX.
The Financial Secretary, Mr Paul Chan, said, "Mr Tong is a well-respected and prominent doyen in the financial industry with profound professional knowledge and experience. He served as the Chairman of the Securities and Futures Commission, and achieved excellent progress in taking forward market development and effective market regulation. Last year, he also led the Task Force on Enhancing Stock Market Liquidity in comprehensively reviewing the major factors affecting market liquidity, and made specific and forward-looking recommendations to the Government on improving the competitiveness of the Hong Kong stock market and promoting its sustainable development."
Mr Chan continued, "Mr Tong's expertise in the securities market and broad international connections will be great assets to facilitating the HKEX's further development. We believe that with Mr Tong's leadership, the HKEX will continue to enhance its listing platform and deepen co-operation with the Mainland and overseas financial markets, further consolidating and enhancing our position as an international financial centre and important fundraising market."
Mr Tong was appointed by the Financial Secretary as a member of the Board of Directors of the HKEX in February 2023 under the SFO for a term of around two years until the conclusion of the Annual General Meeting of the HKEX in 2025.
Mr Tong was elected as Chairman of the HKEX by the directors at the board meeting on April 24, 2024. The HKEX is a recognised exchange controller under the SFO. Section 69(1) of the SFO provides that no person shall be the chairman of a company which is a recognised exchange controller unless he has the approval in writing of the Chief Executive.
Ends/Friday, May 3, 2024
Issued at HKT 18:05
Issued at HKT 18:05
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