The government has appointed former commerce chief Frederick Ma as the new chairman of the Hong Kong Trade Development Council, succeeding Peter Lam.

Ma's two-year term will run from June 1, 2025 to May 31, 2027.

Secretary for Commerce and Economic Development Algernon Yau said in a statement that Ma’s extensive experience in public service and the commercial sector makes him well-suited for the role.

"I am confident that he will lead the HKTDC to make every effort in assisting enterprises to embrace the challenges arising from the ever changing global trading landscape and actively tap new markets and business opportunities, with a view to further promoting Hong Kong's development as an international trade centre," he said.

Yau also thanked Lam for his contributions during his tenure.

"Under his chairmanship, the HKTDC has successfully promoted Hong Kong as a two way global investment and business hub and assisted Hong Kong companies in further exploring the business opportunities in the mainland and overseas brought by the nation's dual circulation strategy, with outstanding achievements particularly in promoting Hong Kong in the Guangdong-Hong Kong-Macau Greater Bay Area and emerging markets under the Belt and Road Initiative," he said.

Ma currently serves as the non-executive chairman of the FWD Group and is a member of the Chief Executive’s Council of Advisers.