Financial Secretary Paul Chan announced on Friday that he has reappointed Eddie Yue as chief executive of the Hong Kong Monetary Authority (HKMA).

In a statement, Chan praised Yue's leadership, highlighting the authority's success in maintaining local monetary and banking stability amid challenges in recent years including black-clad violence and the pandemic.

"I am confident that Eddie will continue to lead the HKMA effectively in the coming five years and make further contributions to Hong Kong's financial, economic and social progress," Chan said.

In response, Yue expressed gratitude for the finance minister's trust, adding that he will strive to maintain Hong Kong's status as an international financial hub.

"Looking ahead, the macroeconomic environment, the international financial landscape, and geopolitics are likely to remain complex and uncertain for some time," Yue said.

"I believe that consolidating and expanding Hong Kong's position as an international financial centre is the best way for us to contribute to the prosperity of our country and Hong Kong."

Yue's new five-year term is set to commence on October 1.