Martin Liao became chairman of The Hong Kong Jockey Club in August 2025. He is a barrister and longtime Hong Kong lawmaker who has served the club since 1988. He now leads one of the largest racing and wagering operations in the world.
Who Is Martin Liao?
Martin Liao Cheung-kong is a Hong Kong barrister, lawmaker, and public servant. Born in 1957, he built his career across law, politics, and one of Asia’s biggest gaming organizations.
He spent over a decade in the Legislative Council of Hong Kong, representing the Commercial (Second) constituency from 2012 to 2025. He also sits on the Executive Council, Hong Kong’s top policy advisory body, a role he has held since 2016.
Liao’s connection to the Hong Kong Jockey Club (HKJC) goes back nearly four decades. He became the club’s 27th chairman in August 2025, taking over from Michael T H Lee.
Martin Liao’s Path to Hong Kong Jockey Club Chairman
Martin Liao did not arrive at the top job overnight. He worked through the club’s ranks over several decades, starting as an ordinary member in 1988.
| Year | Milestone |
| 1988 | Joins the Hong Kong Jockey Club as a member |
| 2002 | Becomes a Voting Member |
| 2013 | Elected to the Board of Stewards |
| 2023 | Elected Deputy Chairman on May 23 |
| 2025 | Elected 27th Chairman in August |
Liao succeeded Michael T H Lee, who stepped down after 19 years as a steward and three years as chairman. Voting members also elected Lester Huang as deputy chairman alongside Liao’s appointment.
Martin Liao’s Legal and Government Career
Martin Liao built his professional reputation as a barrister long before he led the Jockey Club. England and Wales called him to the Bar in 1984, Hong Kong followed a year later, and he gained admission as an advocate and solicitor in Singapore in 1992.
Early in his career, he sat on Hong Kong’s Copyright Tribunal between 2001 and 2005. He went on to chair the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Review Tribunal.
Politically, Liao represented Hong Kong as a Deputy to China’s National People’s Congress from 2008 through 2023. He also sits on the 14th National Committee’s Standing Committee of the Chinese People’s Political Consultative Conference.
Liao won his Legislative Council seat unopposed in 2012 and held it through multiple elections until his term ended in December 2025. Starting in 2016, he took on the role of convenor for the Legislative Council’s pro-establishment camp, chairing several major bill committees.
He joined Hong Kong’s Executive Council as a non-official member in November 2016 and was reappointed in 2022. His postgraduate degree, a Master of Laws, comes from University College London, where he also completed an undergraduate economics degree.
Martin Liao’s Honors and Awards
Hong Kong has recognized Martin Liao’s public service with several of its top civic honors over the past two decades.
- Justice of the Peace, 2004
- Silver Bauhinia Star, 2014
- Gold Bauhinia Star, 2019, for his commitment to community service
- Grand Bauhinia Medal, 2024, Hong Kong’s highest civilian honor
The Grand Bauhinia Medal recognized Liao’s work helping pass the Safeguarding National Security Ordinance, along with his long record of public service.
How Martin Liao’s Hong Kong Jockey Club Compares to US Racing and Betting Operators
American readers who follow horse racing or sports betting may not know how differently the organization Martin Liao now leads operates compared to US racetracks and sportsbooks. The structure sets it apart from nearly every operator in the United States.
| Feature | Hong Kong Jockey Club | Typical US Racetrack or Sportsbook |
| Ownership structure | Non-profit trust, no shareholders | Publicly traded or privately owned company |
| Where profits go | Hong Kong government and community charities | Shareholders and company reinvestment |
| Core products | Horse racing, football betting, lottery | Sports betting, casino games, racing |
| FY2024/25 wagering and lottery turnover | HK$320.3bn (about US$40.8bn) | Varies widely by state and operator |
| FY2024/25 tax and duty contribution | HK$28.8bn (about US$3.69bn) to the government | State-set tax rates on gross gaming revenue |
The Jockey Club’s charitable model is a big reason it holds such a trusted place in Hong Kong. It reported HK$43.8bn (about US$5.62bn) in betting and lottery revenue for its financial year ended June 30, 2025, and it put HK$1.3bn more into the territory’s Lotteries Fund.
What’s Next for Martin Liao and the Hong Kong Jockey Club
Martin Liao has pointed to the Greater Bay Area as a major focus for his chairmanship. The region links Hong Kong with Macau and nearby mainland Chinese cities, and Liao wants HKJC’s equine industry expertise to play a bigger role there.
He has also talked about growing the club’s international reputation. In his own words, the club’s core purpose remains serving the community, even as it expands its racing and entertainment offerings.
Liao takes over at a strong financial moment for the club. HKJC marked its 140th anniversary with record contributions to the Hong Kong government, giving him a solid base to build from.
The Bottom Line
Martin Liao spent nearly four decades working his way up at the Hong Kong Jockey Club before becoming its 27th chairman in 2025. His background in law and government gives him a different skill set than most gaming executives, and he now applies it to one of Asia’s largest racing and wagering organizations.
Frequently Asked Questions About Martin Liao
Who is Martin Liao?
Martin Liao is a Hong Kong barrister, former lawmaker, and the current chairman of The Hong Kong Jockey Club. He was called to the Bar in 1984 and spent over a decade representing the Commercial (Second) constituency in the Legislative Council.
When did Martin Liao become chairman of the Hong Kong Jockey Club?
Liao became the Hong Kong Jockey Club’s 27th chairman in August 2025. He succeeded Michael T H Lee, who had led the club for three years as chairman and 19 years total as a steward.
What is Martin Liao’s political background?
Liao served in Hong Kong’s Legislative Council from 2012 to 2025 and has sat on the Executive Council since 2016. He was also a Deputy to China’s National People’s Congress from 2008 to 2023.
What awards has Martin Liao received?
Liao holds the Grand Bauhinia Medal, Hong Kong’s highest civilian honor, awarded in 2024. His earlier honors include the Silver Bauhinia Star, received in 2014, followed by the Gold Bauhinia Star five years later.
How is the Hong Kong Jockey Club different from a US sportsbook?
The Hong Kong Jockey Club is a non-profit trust that sends its profits to the Hong Kong government and local charities. Most US sportsbooks and racetracks are shareholder-owned companies that keep their profits for investors.