The chief of Hong Kong’s de facto central bank has been reappointed to another five-year term.
Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue has been reappointed to a term of five years, according to a statement, effective October 1.
Yue is a career civil servant, having joined the local government in 1986 as an administrative officer. He joined the HKMA in 1993 as a senior manager and took on various roles before becoming deputy chief executive in September 2007 and chief executive since October 2019.
Annual Pay
A fixed pay of $7.4 million has been set for the role which will be reviewed annually with an adjustment of no more than the inflation rate in the preceding year. The annual performance-linked variable pay will be capped at $2.3 million throughout the five-year term.
«Under the leadership and steer of the Hong Kong [government], the HKMA has been making great strides in promoting the development of Hong Kong as an international financial center. Its efforts include, among other things, building Hong Kong as an offshore Renminbi hub, advancing fintech, and promoting the mutual access between the Mainland and Hong Kong financial markets,» said Financial Secretary Paul Chan.
«I am confident that Eddie will continue to lead the HKMA effectively in the coming five years, and make further contributions to Hong Kong's financial, economic and social progress.»
