Chief Executive John Lee and Secretary for Financial Services & the Treasury Christopher Hui today expressed sorrow over the passing of Vincent Cheng and extended their deepest condolences to Mr Cheng’s family.

Mr Lee said Mr Cheng was an esteemed banker.

“Over the years, he had been promoting the steady development of Hong Kong's banking industry, commanding high respect of the sector.

“Mr Cheng had also been very committed to serving the community. Not only had he served in various government statutory and advisory bodies, but also he had been dedicated to charitable causes and made considerable contributions to Hong Kong in wide-ranging aspects, including culture and sports, heritage preservation, and social and community services.”

Mr Hui said Mr Cheng was a role model for future generations of the industry.

“Mr Cheng worked his way up to become an outstanding banker, who made valuable contributions to the overall financial market in Hong Kong. He spared no effort in contributing to the trade and the community.”

He was awarded the Gold Bauhinia Star in 2005 by the Hong Kong Special Administrative Region Government. He served as the chairman of the Mandatory Provident Fund Advisory Board and the Process Review Panel for the Securities & Futures Commission.

He was also a keen supporter of education in Hong Kong and had served on the councils of a number of higher education institutions.