Charles Li, the outgoing boss of Hong Kong Exchanges & Clearing, hinted of a new role in finance based in the Central business district when he retires in two weeks’ time, describing himself as an optimist who views the city’s prospects as a “glass half full.”

Li, who turns 60 in March, took the top job at HKEX in January 2010, becoming the first mainland Chinese to lead the city’s stock exchange. The former China chair of U.S. investment bank JPMorgan built a career specializing in investment businesses in Asia, North America and China before landing the city’s highest-paid financial regulatory post.

Prior to his move into finance, Li worked as a reporter for state-owned China Daily’s propaganda department following his graduation from Xiamen University’s School of Foreign Languages and Literature in 1984.

At a press briefing for his retirement, Li said he felt satisfied that most of the things he set out to achieve had been accomplished, while those that remained unfinished were well on-track. He added that he was delighted at the recognition he had received for his service in Hong Kong, where has lived for more than two decades.

“My passion is in finance,” Li said. “I will continue to stay in Hong Kong, which I have called home for 26 years.”

Despite the recent economic slowdown caused by the global COVID-19 pandemic and last year’s months-long anti-government protests, Li said he has never doubted the future of Hong Kong due to its unique potential to help China and the rest of the world “deepen integration and maintain their own competitiveness.”

He said he was “full of confidence” about Hong Kong’s prospects in the coming decade, whatever challenges might arise from the dynamic and evolving relationship between the U.S. and China.

During his 11 years in charge, HKEX has seen its market value almost triple to reach HK$491 billion (US$63 billion) as of Monday. The city has also become the world’s leading center for initial public offerings — topping the global rankings for seven of the past 11 years.

Li announced his early retirement in May this year, 10 months earlier than his original term of office. He refuted rumors that he planned a move into politics — either to contest in the Hong Kong Chief Executive election or serve in the Shenzhen government — saying he no longer wanted to work as an employee anymore and hinting he would like to start his own business.

“I won’t work somewhere outside Central in the future,” he said.

HKEX Chief Operating Officer Calvin Tai takes over as interim boss from Jan. 1, while the search for a permanent replacement is ongoing. Li, in the meantime, has started a three-year term at the University of Hong Kong’s top decision-making body since November.

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