Hong Kong to renew contract of SFC CEO Julia Leung for another two years: sources

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term as the first female head of the SFC in January 2023. Her current three-year term will expire at the end of this year, but sources familiar with the matter said the government would like her to serve another term for two years from January 2026.The government expected Leung to continue to lead the SFC's major financial regulatory projects, including Hong Kong's listing reforms, the city's development as a bond and yuan trading centre, and digital asset trading, according to a source.Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.During her first term, Leung had proven to be capable of carrying out the SFC's regulatory reforms while promoting the city as an international financial centre, the source said.An SFC spokesman declined to comment on Tuesday.Although Leung would soon reach the age of 65, that was not an issue for renewing her contract because the regulator did not have a fixed retirement age for senior executives, another source said.Leung's experience and her unique understanding of Hong Kong's role as an international financial market were vital to the many ongoing developments of Hong Kong financial plans, according to the second source.Last month, Leung joined Hong Kong Monetary Authority Chief Executive Eddie Yue Wai-man in unveiling a blueprint to develop the city's fixed income and currency markets, including measures to expand offshore yuan products and liquidity as part of efforts to bolster the city's role as an international financial hub.The SFC is working with bourse operator Hong Kong Exchanges and Clearing (HKEX) on comprehensive listing reforms, including a plan to relax requirements that would allow small and diverse companies with multiple voting rights to raise funds in the city, said Salina Yan Mei-mei, Permanent Secretary for Financial Services and the Treasury, on Monday.Securities and Futures Commission CEO Julia Leung Fung-yee at the SFC offices in Quarry Bay. Photo: Jonathan Wong alt=Securities and Futures Commission CEO Julia Leung Fung-yee at the SFC offices in Quarry Bay. 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