Former commerce chief Frederick Ma to head Hong Kong Trade Development Council

Former commerce minister and ex-chairman of the MTR Corporation Frederick Ma Si-hang will take the reins of the Hong Kong Trade Development Council, at a time when the city actively seeks new business partners and diversifies its markets, the Post has learned.

The appointment comes as the council’s outgoing head Peter Lam Kin-ngok, moves to lead the Hong Kong Tourism Board, a source familiar with the matter said on Wednesday.

Lam, whose two-year reappointment at the council will end in May, will take over from board chairman Pang Yiu-kai, whose term ends on March 31 after serving two three-year terms.

The new arrangement will see Lam straddling leadership positions at the council and the board for two months from April, before Ma starts in June.

The reshuffle is seen as a bid by the government to boost the city’s economy with the commerce and tourism sectors, and to secure business opportunities both overseas and internally.

Ma has been a member of the international advisory council of the China Investment Corporation, which manages US$1.35 trillion worth of assets. Other members include former chancellor of Germany Gerhard Schroder and John Thornton, executive chairman of Barrick Gold Corp and a former Goldman Sachs president.