Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA)

Speaking at the Hong Kong Dinner in London in October, Financial Secretary of the Hong Kong SAR Mr Paul Chan described the city as going through an “extraordinary time”, stating that despite the protests, Hong Kong remained “an efficient, resilient and competitive economy”. Indeed in November, Hong Kong successfully launched the US$13 billion IPO of Alibaba, underlining its position as an international financial centre linking the Mainland market to global investors.

Nonetheless, as political unrest continues to grip the city, the government has revised its estimate for economic growth in 2019 downwards – the first annual contraction since the 2009 global financial crisis,  as reported by Reuters.  At the same time, FinTech continues to reshape the financial market and banking system that has underpinned the city’s success these past decades. It remains to be seen how Hong Kong will emerge from the current challenges it is facing.

Mr Eddie Yue, the newly-appointed Chief Executive of the Hong Kong Monetary Authority (HKMA), will visit Asia House on 15 January to brief Corporate Members on the situation in Hong Kong and outline HKMA’s views on the outlook for Hong Kong’s financial market and banking system.

Mr Yue assumed the post of Chief Executive on 1 October, becoming HKMA’s third chief executive in 26 years. Prior to this, he was Deputy Chief Executive at HKMA, overseeing various areas including reserve management, monetary stability, financial infrastructure and international and Mainland affairs. He was also actively involved in tackling two financial crises, and steered and promoted a number of major financial policies and initiatives, including Renminbi business, mutual financial market access between Hong Kong and the Mainland, and the development of green finance.

This briefing is held exclusively for Asia House Corporate Members. To register interest in attending, please contact evie.cramb@asiahouse.co.uk.