Financial Secretary Paul Chan announced today (July 26) the reappointment of Yu Weiwen as the Chief Executive of the Hong Kong Monetary Authority (HKMA) for a term of five years, effective from October 1 this year. Chen Maobo said, "In the past few years, Hong Kong has experienced the impact of riots and epidemics, as well as geopolitical challenges. Under the leadership of Wei Wen, the Hong Kong Monetary Authority has maintained the stability of the money market and banking system, and worked closely with institutions such as the Financial Services and Treasury Bureau, the Securities and Futures Commission, the Insurance Regulatory Authority, and the Hong Kong Stock Exchange to jointly safeguard Hong Kong's financial security. The Exchange Fund has also achieved returns that are in line with its investment goals in the uncertain global investment environment." "" Under the leadership and coordination of the SAR government, the Hong Kong Monetary Authority has also focused on promoting the development of the Hong Kong International Financial Center, including the construction of offshore RMB hubs, the development of financial technology, the promotion of 'interconnectivity', and actively strengthening cooperation with financial regulatory agencies at home and abroad. Communication and cooperation According to the instructions of the SAR government, the Hong Kong Monetary Authority actively responds to the needs of people's livelihood and small and medium-sized enterprises, and promotes inclusive finance, including implementing the Small and Medium sized Enterprise Financing Guarantee Scheme and public pension through the Hong Kong Mortgage Corporation Limited. I believe that Wei Wen will continue to lead the Hong Kong Monetary Authority well in the next five years and make contributions to Hong Kong's finance, economy, and social livelihood. After consulting the governance committee under the Exchange Fund Advisory Committee, the Financial Secretary has decided to set the fixed annual salary for the new term of the Chief Executive of the Hong Kong Monetary Authority at about 7.4 million yuan. The adjustment of fixed annual salary will be considered together with the annual salary review of Hong Kong Monetary Authority employees in April each year, but not higher than the inflation rate of the previous year. The floating annual salary determined based on performance is capped at 2.3 million yuan, which applies to the entire five-year term. The amount is determined by the Financial Secretary after consulting with the aforementioned governance committee. Resume of Yu Weiwen: Yu Weiwen is 59 years old. He joined the Hong Kong government as an administrative officer in 1986, and joined the Hong Kong Monetary Authority as a senior manager in 1993. He was later promoted to director in 1994. He was appointed as Assistant President (Institutional Development and Operations) in June 2001, and later transferred to Assistant President (Monetary Management and Financial Infrastructure) in July 2004, and was appointed as Vice President in September 2007. He became the Chief Executive of the Hong Kong Monetary Authority in October 2019. (New Society)
Edit：Lubaikang Responsible editor：Chenze
Source：Hong Kong SAR Government Information Department
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