Chen Delin retires in October. “Into the time and sometimes back”, the Financial Secretary takes the lead in the election committee. The Vice President of the HKMA, Yu Weiwen, is in the heat.

The Hong Kong Monetary Authority, which oversees more than 3 trillion foreign exchange reserves in Hong Kong, the current president, Chen Delin, decided to retire after the expiration of his term at the end of September this year, ending his ten-year term. It is understood that many friends of Chen Delin have been concerned about his future destination since last year, and he always responded: “Into the time, go back sometimes.”

As Chen Delin will soon step down, the three vice presidents directly under the command will become the hot successors, namely Yu Weiwen, who manages the Exchange Fund, Li Guozhi, who is the bank supervisor, and Li Dazhi, who is the financial infrastructure. Yu Weiwen has a loud voice.

Finance: Respect decision Thank you for your contribution

The Financial Secretary, Chen Maobo, said that he respected Chen Delin’s decision and thanked him for promoting Hong Kong into an Asian international financial center. He said that the high-level personnel changes of the HKMA will not affect the operation of the bureau and the stability of the financial system.

The Hong Kong Government announced the next five-person selection panel of the president. The group is led by Chen Maobo, including Feng Guojing, Liu Zunyi, Shi Wenxin, and former President of the HKMA, Ren Zhigang. The government will make another announcement after the selection process is completed.

After graduating from university in 1976, Chen Delin joined the government as the Administrative Officer. The HKMA was established in 1993 and was appointed as the Assistant President. In 2005, he left the HKMA and moved to the business and government. He took over as the President of the HKMA in 2009. Job.

Chen Delin said that after working for 43 years after graduation, he believed that it is now appropriate to retire and leave more time for his family. He continued, honouring that he has been able to work hand in hand with the HKMA team for many years to make every effort to maintain the stability of Hong Kong’s monetary and financial system and to continuously enhance Hong Kong’s competitiveness and status as an international financial centre. Chen Delin also sent an e-mail to the HKMA, praising the results of the team’s work and turning the HKMA into a world-class central bank. Chen Delin, 65, said that he would focus on the remaining seven-month term, including the smooth handover with the next president. I believe the government will find suitable candidates.

Yu Weiwen, the Exchange Fund, the best in the Mainland

As for the popular candidates in the market, who can take over the position of the president of the annual salary, Yu Weiwen, the current vice president, has become a big fan. Yu Weiwen, who joined the government in 1986, joined the HKMA seven years later. He worked as the two presidents of Ren Zhigang and Chen Delin. In 2007, he was promoted to vice president at the age of 42. He is currently responsible for managing the Exchange Fund, external affairs and research. In recent years, Hong Kong has actively expanded its offshore renminbi business. It is understood that Yu Weiwen, who is responsible for external affairs, is responsible for engaging with the mainland central bank. Therefore, he has accumulated a lot of mainland network and has an advantage in developing offshore renminbi business.

The other two vice presidents of the HKMA, Yan Guoheng joined the HKMA for 23 years. Since he became vice president in 2010, he has been responsible for banking policy, supervision, ethics and regulatory matters. He has worked in the CSRC for two years before joining the HKMA. Li Dazhi is responsible for the Monetary Management, Financial Stability Monitoring, Financial Infrastructure and Financial Technology Promotion Office. He has actively promoted the implementation of a number of important financial infrastructures, including the “speed of turnover” for cross-bank transfers. He was officially promoted to Vice President in 2018.

Yin Huiyi, Chairman of the Bank, said that under the leadership of Chen Delin, the HKMA has maintained good relations of cooperation with the industry, especially under the challenging global economy during its term of office, strengthening the ability of the banking system of Hong Kong to resist external shocks and ensuring the stability of the financial market. It also actively promotes the development of Hong Kong’s financial technology and enhances its international competitiveness.