Statement of Mourning to Mr. Tung Chee-hwa, former Vice Chairman of the CPPCC and first Chief Executive of Hong Kong SAR
Release Date: 2026-09-09
9 September 2026
We deeply mourn the passing of Mr. Tung Chee-hwa, former Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and the first Chief Executive of the Hong Kong Special Administrative Region.
All members of the Hong Kong Securities and Futures Professionals Association (hereinafter "the Association") are today deeply saddened to pay our heartfelt tributes to Mr. Tung Chee-hwa.
During 2001–2002, Hong Kong's securities industry faced the severe challenge of the proposed abolition of the minimum commission system. At that time, local small- and medium-sized brokerages and a broad swathe of practitioners were caught in a survival crisis. The preparatory committee of our Association submitted a letter of industry views to the then Chief Executive, Mr. Tung Chee-hwa, through our representatives, reflecting the hardships faced by grassroots practitioners.
At that historic turning point, Mr. Tung demonstrated a statesmanlike approach of understanding public sentiment and making pragmatic decisions. The Government ultimately decided to shelve the abolition of the minimum commission system for one year. That decision provided a vital breathing space for practitioners who were then facing the risk of elimination. It was precisely this "one-year grace period" that enabled our Association to unite industry forces and formally register in 2002, growing from an initial membership of just over 100 to the current size of more than 3,000 active members today.
As former Vice Chairman of the CPPCC National Committee and the first Chief Executive of the HKSAR, Mr. Tung Chee-hwa was not only a pioneer in implementing the "One Country, Two Systems" principle in Hong Kong, but also a leader who was willing to strike a balance between macro‑financial transformation and the rights and interests of grassroots professionals. His receptiveness to public voices during his tenure laid the foundation for the unity of our Association and the industry at large.
The Association expresses its deepest condolences on the passing of Mr. Tung Chee-hwa and extends its most sincere sympathies to his family. His historical contributions and his care for local securities practitioners will forever be remembered by all of us.
Mofiz Chan
Chairman
Hong Kong Securities and Futures Professionals Association
We deeply mourn the passing of Mr. Tung Chee-hwa, former Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and the first Chief Executive of the Hong Kong Special Administrative Region.
All members of the Hong Kong Securities and Futures Professionals Association (hereinafter "the Association") are today deeply saddened to pay our heartfelt tributes to Mr. Tung Chee-hwa.
During 2001–2002, Hong Kong's securities industry faced the severe challenge of the proposed abolition of the minimum commission system. At that time, local small- and medium-sized brokerages and a broad swathe of practitioners were caught in a survival crisis. The preparatory committee of our Association submitted a letter of industry views to the then Chief Executive, Mr. Tung Chee-hwa, through our representatives, reflecting the hardships faced by grassroots practitioners.
At that historic turning point, Mr. Tung demonstrated a statesmanlike approach of understanding public sentiment and making pragmatic decisions. The Government ultimately decided to shelve the abolition of the minimum commission system for one year. That decision provided a vital breathing space for practitioners who were then facing the risk of elimination. It was precisely this "one-year grace period" that enabled our Association to unite industry forces and formally register in 2002, growing from an initial membership of just over 100 to the current size of more than 3,000 active members today.
As former Vice Chairman of the CPPCC National Committee and the first Chief Executive of the HKSAR, Mr. Tung Chee-hwa was not only a pioneer in implementing the "One Country, Two Systems" principle in Hong Kong, but also a leader who was willing to strike a balance between macro‑financial transformation and the rights and interests of grassroots professionals. His receptiveness to public voices during his tenure laid the foundation for the unity of our Association and the industry at large.
The Association expresses its deepest condolences on the passing of Mr. Tung Chee-hwa and extends its most sincere sympathies to his family. His historical contributions and his care for local securities practitioners will forever be remembered by all of us.
Mofiz Chan
Chairman
Hong Kong Securities and Futures Professionals Association