Hong Kong Exchanges & Clearing Limited has renewed Chief Executive Paul Chow's employment contract for two more years, from May 1, 2007 to April 30, 2009.

The HKEx Board of Directors said Mr Chow's reappointment as Chief Executive is subject to written approval from the Securities & Futures Commission.

Mr Chow was first appointed as the Chief Executive and a director of HKEx on May 1, 2003.

The Board said with his extensive experience and expertise in financial markets and management, Mr Chow has been instrumental in leading the exchange's executive management to achieve the current three-year strategic plan with the mission of operating a world-class securities and derivatives marketplace for Hong Kong and the Mainland.

It looks forward to his continuous contribution to the further growth of HKEx.