The Financial Secretary of the Hong Kong Special Administrative Region Government, Paul Chan, announced on the 26th that Yu Wai man has been reappointed as the Chief Executive of the Hong Kong Monetary Authority (HKMA) for a term of 5 years, effective from October 1st of this year. Chen Maobo stated that in the past few years, under the leadership of Yu Weiwen, the Hong Kong Monetary Authority has maintained the stability of the money market and banking system, and has worked closely with institutions such as the Financial Services and Treasury Bureau, the Securities and Futures Commission, the Insurance Regulatory Commission, and the Hong Kong Stock Exchange to jointly safeguard Hong Kong's financial security. Despite the uncertainty in the global investment environment, foreign exchange funds have achieved returns that are in line with their investment objectives. Under the leadership and coordination of the SAR government, the Hong Kong Monetary Authority focuses on promoting the development of Hong Kong as an international financial center, actively responding to the needs of people's livelihoods and small and medium-sized enterprises, and advancing inclusive finance. Chen Maobo said that he believes that Yu Weiwen will continue to lead the Hong Kong Monetary Authority well in the next five years, making contributions to Hong Kong's finance, economy, and social livelihood. Yu Weiwen responded on the same day that he felt honored to continue serving and contributing to Hong Kong in this important position, and thanked the industry and Hong Kong citizens for their support and trust in the Hong Kong Monetary Authority. Yu Weiwen pointed out that in the coming years, the macroeconomic environment, international financial situation, and geopolitics will remain complex and ever-changing. He and his team will continue to maintain a high level of vigilance and spare no effort to provide financial services and support the real economy while maintaining the stability of the currency and the entire financial system. Yu Weiwen stated that the country's continued deepening of reforms brings enormous opportunities for Hong Kong, and the Hong Kong Monetary Authority will continue to work towards promoting connectivity with the mainland and enhancing Hong Kong's role as a global offshore RMB hub. At the same time, the Hong Kong Monetary Authority will seize the opportunities of financial technology and green finance to maintain Hong Kong's leading position in global financial development. Yu Weiwen took over as the Chief Executive of the Hong Kong Monetary Authority in October 2019. (New Society)