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Laura Cha Formally Steps down as Chairman, Hopes HKEX to Keep Growing Globally
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Former HKEX (00388.HK) Group Chairman Laura Cha has stepped down from her post after the annual general meeting (AGM), and no announcement has been made yet on who will be the next Chairman. Facing the media after the AGM, Cha said that the past six years have been full of challenges in the external environment, the international economy and geopolitics; and during her term of office, she and her team have navigated through the trials and tribulations, and have accepted the challenges and come out of the woods. Cha believed that the positioning and foundation of Hong Kong and HKEX as "backed by the motherland and connected to the world" will not change, and that the group has invested immensely in internationalization during her term of office. She hoped that the group will continue its internationalized development in the future. The market is slowly picking up and the trading volume is on the rise, said Cha, with today's market turnover in Hong Kong whopping $130 billion. She envisioned that the market will continue to improve. Asked about the tepid performance of both the HSI and the IPO markets during her tenure, Cha defender that index volatility is just a normal part of market operation for market operators and regulators, while the weak IPO market is a common challenge faced by all exchanges in recent years, mainly due to the high interest rates which have deterred investors, rather than a lack of companies coming to Hong Kong for listing. Cha described her most memorable moment as when she was involved in the listing of H-shares 30 years ago, and believed that she will not face too much pressure in the future after retreating from the frontline, and may be involved in some non-profit making work. She underscored that one does not have to be a public servant to serve Hong Kong. Currently, Cha, still an independent director of Ant Group, disclosed that she has been in the post for less than a year without devoting much time in her work, hoping to get familiar with it in future. AAStocks Financial News |
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