Hong Kong Exchanges & Clearing Limited (HKEx) today announced that Charles Li will not seek reappointment as Chief Executive at the end of his current contract in October 2021.

The Government said it respected Mr Li's decision and expressed deep appreciation for his exemplary contribution to the development of the financial market during his tenure as HKEx Chief Executive in the past decade.

Since taking the helm in January 2010, he has led HKEx and Hong Kong’s capital market in achieving important breakthroughs one after another.

The vibrancy and growth that Mr Li has brought to Hong Kong in the capital market helps reinforce the status of Hong Kong as a leading international financial centre.

Financial Secretary Paul Chan said: "Thanks to his vision and leadership, Mr Li has laid a solid and strong foundation for our stock market, rendering Hong Kong the largest IPO market in the world for seven times in the past 11 years.

"He has been instrumental in the successful launch of mutual market access programmes between Hong Kong and the Mainland, notably the Shanghai-Hong Kong Stock Connect in 2014, which was expanded to include Shenzhen-Hong Kong Stock Connect in 2016 and Bond Connect in 2017.

"He also played a pivotal role in the launch of new listing regime in Hong Kong, the enhanced internationalisation of HKEx and its international visibility. These are all important achievements of HKEx in the past few years under Mr Li’s able leadership."

Mr Chan added that the Government is confident the HKEx board will continue to ensure the success of HKEx in the years to come.