Liao succeeds Eric Li Ka-cheung, who retired from the board of stewards on the same date having reached the age of 70.

Liao has been a club member since 1988, a voting member in 2002, and a steward in 2013. He is Chairman of the Advisory Committee on Corruption of the Independent Commission Against Corruption and a Standing Committee Member of the 14th National Committee of the Chinese People's Political Consultative Conference.

In appreciation of Li's outstanding service and contribution, the HKJC board has invited him to become an honorary steward.

"He has served on no less than 17 Club's committees over the years," HKJC Chairman Michael Lee Tze-hau said when paying tribute to Li. "Eric's extensive experience, not only in the accounting industry but of social welfare, where he has a most distinguished record, has been of great benefit to the Club."