Eddie Yue: Opening remarks - Hong Kong Academy of Finance 5th
Anniversary and Financial Leaders Programme Graduation Ceremony
Opening remarks by Mr Eddie Yue, Chief Executive of the Hong Kong Monetary
Authority, at the Hong Kong Academy of Finance 5th Anniversary and Financial
Leaders Programme Graduation Ceremony, Hong Kong, 13 December 2024.
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A very warm welcome to all of you for joining us today to commemorate the 5th
rd
Anniversary of the Hong Kong Academy of Finance (AoF) and the 3 Financial Leaders
Programme Graduation Ceremony.
Back in 2018, with the financial industry becoming increasingly globalised and complex,
the Financial Secretary tasked the Hong Kong Monetary Authority (HKMA) to
commission an Experts Group to consider how to further enhance Hong Kong's "soft
power" as an international financial centre (IFC). The Experts Group concluded that
cultivating this "soft power" in practice required a robust talent pool in leadership ranks
and a strong local research base to further elevate Hong Kong's competitiveness and
profile as an IFC on the global stage.
With this in mind, the AoF was established in 2019 as a collaboration among the four
financial regulators in Hong Kong, namely the HKMA, the Securities and Futures
Commission, the Insurance Authority, and the Mandatory Provident Fund Schemes
Authority.
The mission of the AoF was twofold: (i) to serve as a centre of excellence for
developing financial leadership; and (ii) to act as a repository of knowledge in monetary
and financial research, including applied research.
Three AoF Fellows - Norman [Chan, Senior Adviser of the Hong Kong Academy of
Finance], Moses [Cheng, Non-official Member of the Executive Council], and Tony
[Neoh, Co-Chairman, the Asian Academy of International Law] - who played a
significant role in conceptualising the idea of the AoF, are here with us today, and will
share their insights on the AoF's progress in achieving its strategic objectives in a panel
session later. Before that, let me first share a few observations.
In fact, the AoF was born during a rather testing time back five years ago. Right after its
launch, Hong Kong faced a series of challenges from social unrest to the global
pandemic. But through these adversities, the AoF managed to stay nimble and
innovative, and still succeeded in making meaningful progress across several key areas.
Firstly, the AoF has built up a strong and diverse membership base comprising nearly
400 senior executives from across the financial industry. We managed to attract world
renowned policymakers and financial leaders to come and share their views with our
members through our speakers series. Through these regular interactions, we hope we
can help expand the perspectives of our future leaders on global and interdisciplinary
issues, thereby enhancing the soft power of Hong Kong in the process.
Secondly, the Hong Kong Institute for Monetary and Financial Research (HKIMR),
which is now under the AoF, has continued to undertake research projects that are both
in-depth and highly relevant to the policy deliberations among the financial industry and
policymakers in Hong Kong. Over the past five years, the HKIMR has further solidified
its position as a credible and relevant institute by strengthening its outreach to regional
and international research communities, and delivering valuable and impactful content
through its monetary and applied research programmes.
Thirdly, we are particularly excited to launch the AoF's Financial Leaders Programme,
which has provided a comprehensive platform for collaborative learning opportunities to
an annual cohort of financial talents. Since its launch in 2022, two cohorts of a total of
42 senior executives have graduated from the Programme, and we will shortly witness
rd
the graduation of the 3 cohort of future financial leaders, and I hope that they will
leave the Programme feeling better equipped to advance in their career journeys.
Looking ahead, we hope our members will continue to support and work with us in
delivering our strategic priorities and promoting the Hong Kong story via the AoF
platform. I firmly believe that harnessing the network power among market participants,
academia, and regulators is crucial to Hong Kong's future success as an IFC. In this
regard, I hope you find that the AoF network to be truly unique and useful to your
institutions, and I encourage you all to continue to participate in our activities more
regularly.
Before I conclude, I would like to express our sincere gratitude to the Board of
Directors, our Fellows, and all of the AoF members present today for their invaluable
support and contributions to the five-year journey of the Academy. Thank you.