Authorities considering independence for HKMA

Financial secretary Henry Tang has introduced the possibility that the Hong Kong Monetary Authority could gain full independence.

Speaking before a session of the Legislative Council (LegCo), Tang said that while the HKMA is already undertaking the functions of a central bank, operational autonomy would be appropriate. While the HKMA regulates monetary policy, it remains under government control.

He rejected calls to transfer the Authority's regulatory duties to a separate body, saying that the