Under the “Patriots Governing Hong Kong” ordinance, the China Securities Regulatory Commission approves the Argentine Champions League to be promoted to the CEO of the Hong Kong Stock Exchange | Apple Daily

The Hong Kong Stock Exchange (388) announced last month the appointment of Nicolas Aguzin, a senior executive of the US investment bank JP Morgan Chase, as the new chief executive. “To create market doubts, the China Securities Regulatory Commission gave the green light today, referring to the written approval in accordance with Article 70 of the Securities and Futures Ordinance. The UEFA Champions League will take up the post on May 24 for a period of three years and will be the first foreigner to take the helm of the Hong Kong Stock Exchange.

A spokesperson for the Hong Kong Stock Exchange welcomed the approval of the Securities Regulatory Commission and looked forward to joining the management team in May.

The Hong Kong Stock Exchange finalized the UEFA Champions League promotion last month to replace Li Xiaojia as chief executive, but it is rare to announce the appointment without the approval of the Securities Regulatory Commission, which is different from the approval of the previous two terms. Some commentators have described the Hong Kong Stock Exchange as “being cut before playing” and “overlord on the bow.” It is also doubtful whether the appointment can be approved.

Chen Zizheng, a veteran banker who has served as an independent non-executive director of the Hong Kong Stock Exchange for 12 years, told Apple earlier that in the current complex international geography, after the passage of the Hong Kong version of the National Security Law, there are various interpretations. “Many international investors I have doubts about whether Hong Kong can maintain a truly international, fair and independent financial center”, appointing a non-Chinese helmsman with over-qualified qualifications, familiar with European and American markets, and no green card, “a confident foreign investor.” , Proving that the operation of the Hong Kong International Financial Center remains unchanged, “this time is particularly important.”

Ou Guansheng is 52 years old and is currently the chief executive officer of the International Market of Motong Private Bank and a member of the bank’s asset and wealth management business management committee. In the 30 years of joining Motone, he has held various leadership positions in different businesses and regions of the bank, including the chairman and CEO of Asia Pacific from 2012 to 2020, and the CEO of Motone Latin America from 2005 to 2012 . Ou Guansheng holds a Bachelor of Science (Economics) degree from the Wharton School of the University of Pennsylvania.

The establishment questioned: Why does the Hong Kong Stock Exchange use foreigners at the helm

Xia Baolong, director of the Hong Kong and Macau Affairs Office, said in his speech on “Patriots Governing Hong Kong” last month that the original system should be improved to ensure that the members of the administrative, legislative, and judicial bodies of the Special Administrative Region and the heads of important statutory bodies are all Serving as a true patriot means that the “patriot ruling Hong Kong” red line will apply to elections at all levels and statutory bodies other than the SAR government.

When the Hong Kong Stock Exchange announced earlier that it wanted to appoint the first foreign chief executive of the Champions League, it caused many establishments to question why foreigners should be used at the helm. It is rumored that China has even more opinions on this appointment.

Some organizations believe that the leadership of a statutory organization is also an important figure in the governance structure and has the power to make important decisions. Therefore, the Central Committee will regard it as within the scope of “rectification” and believe that there is an opportunity to make an oath or declaration in accordance with the law.

Looking at the information, when Lam Cheng mentioned the study of what is a public official referred to in Article 104 at the end of last year, he quoted opinions that organizations that are not paid or funded by the government but have public powers must also be included in the scope of public officials. The SFC has been cited as an example, saying that it is a regulatory agency that does not take public money, but has great public powers.

Analysis: The Hong Kong Government needs foreign helmsmen to maintain its international status

Associate Professor Xu Jiajian of the Department of Economics at Crimson University in the United States said that the Hong Kong Stock Exchange’s appointment of the top executive of the US investment bank JPMorgan Chase as the chief executive officer can give the outside world a good image and help maintain Hong Kong’s status as an international financial center. In addition, he also pointed out that Li Xiaojia failed to successfully acquire the London Stock Exchange during his tenure, and that Champions League has better experience in the European trading market, which will help Hong Kong’s future acquisitions in the European market.

Current affairs commentator Liu Ruishao said that the CCP values ​​interests more than principles. Although the appointment of Argentine Champions League promotion violates the principle of patriots, the CCP does not mind. A foreign chief executive is needed to maintain its international status. “The objective effect is that Hong Kong will continue to become an international financial center.”

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