HK chief executive approves chairmanship of HKEx
(Xinhua)
Updated: 2004-04-03 15:34

Chief Executive of the Hong Kong Special Administrative Region Tung Chee Hwa has approved the appointment of Charles Lee as Chairman of the Hong Kong Exchanges and Clearing Limited (HKEx).

The approval was made under the Securities and Futures Ordinance (SFO). Lee's chairmanship takes immediate effect, and will coincide with his term as a director of the HKEx Board, which will expire at the end of the 2006 Annual General Meeting of the HKEx.

Lee was elected Chairman of the HKEx by the directors at a board meeting held on Thursday.

Announcing the approval, Hong Kong Financial Secretary Henry Tang said on Saturday that Lee has made invaluable contributions to the local securities market over the years.

"His leadership commands general support and respect by the industry. We are confident that with Mr. Lee's direction, the HKEx will strive to further enhance our market quality and competitiveness, and strengthen our position as the premier capital formation center for the mainland," Tang said.

Lee is one of the three directors reappointed earlier by the financial secretary to the Board of the HKEx on a two-year term under the SFO. He is a lawyer by profession.

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