Ren Zhigang

Joseph Yam, founder of the Hong Kong Monetary Authority, graduated from the University of Hong Kong in 1970 with a Bachelor of Social Sciences First Class Honours degree. In 1974, he obtained a diploma in Statistics and National Accounting from the Hague Institute of Social Sciences in the Netherlands. Over the years, he has been awarded honorary doctorates and honorary professors by multiple universities in Hong Kong and overseas. Joseph Yam was awarded the highest honor of the Grand Bauhinia Medal by the Hong Kong Special Administrative Region Government in 2009, the Golden Bauhinia Star by the Hong Kong Special Administrative Region Government in 2001, and the Order of the British Empire in 1995. Ren Zhigang served as the President of the Hong Kong Monetary Authority from 1993 to September 2009, the Director of the Hong Kong Exchange Fund Authority from 1991 to 1993, and held multiple positions in the Hong Kong government from 1971 to 1991. Currently serving as the Executive Vice President of the Chinese Financial Society of the People's Republic of China, Outstanding Researcher at the Institute of Global Economics and Finance at the Chinese University of Hong Kong, Chairman of Macro Prudential Advisors Limited, Member of the International Advisory Committee of China Investment Limited, and Senior Member and Honorary Advisor President of the Hong Kong Institute of Banking. He is also an independent non-executive director of China Construction Bank Corporation, an independent non-executive director of Dechang Electric, a director of UBS, and a member of advisory committees for multiple academic and private institutions in the financial field. During his 16 years as the President of the Hong Kong Monetary Authority, Joseph Yam has served as the Financial Secretary for Hong Kong five times before and after. However, President Yam remains steadfast and deserves his title as the Financial Tsar of Hong Kong. In fact, since the end of the previous year, there have been rumors in the market that Ren Zhigang will retire at the age of 60. However, due to the sudden impact of the global financial crisis, Mr. Ren, who has rich combat experience, cannot escape. Therefore, he extended his contract for one year and served beyond his age. Since the return of Hong Kong, Joseph Yam has had a good working relationship with mainland officials. Many industry insiders believe that with Ren Zhigang's professional knowledge and rich experience in financial affairs, as well as his relationships with some international financial institutions, he is a valuable talent for the country to promote financial reform and strengthen financial regulation.