Hong Kong Exchanges and Clearing (HKEX) on Thursday appointed Laura Cha May-Lung as chairman, subject to the written approval of the chief executive of the Hong Kong Special Administrative Region.

Cha is the first female to take up the role. She replaces Chow Chung-kong, who steps down after six years of service.

She is currently chairman of the Financial Services Development Council, Hong Kong.

In meeting with media after her appointment, Cha said she is deeply honored for the opportunity, adding that her first priority is to focus on HKEX's strategic plan for the next three years and implement the listing reform.

The appointment came shortly after the historic reform which will take effect next Monday to allow companies with dual-class shareholding structures and biotech firms with no revenue to apply for listing.