Hong Kong

Hong Kong Monetary Authority - Annual Report 2003

The Hong Kong Monetary Authority has published its Annual Report for the year ended 2003. After six years of difficulty and uncertainty, Hong Kong's economy experienced a strong rebound in the second half of 2003 and this rebound has continued its…

HKMA's Yam on issues in monetary policy

In a speech on 'Issues in Monetary Policy' given on 19 January, Joseph Yam of the Hong Kong Monetary Authority said that the HKMA had no concerns about the recent strengthening of the Hong Kong dollar.

Bank cards get OK for Hong Kong use

Mainland-based banks have got agreement from the People's Bank of China to expand their bank card business in Hong Kong, even though overseas banks are still banned from issuing bank cards on the Chinese mainland.

New Hong Kong banknotes

The Hong Kong Monetary Authority has announced that its new series of HK$100 and HK$500 banknotes will be put into circulation from 15 December.

PBOC to discuss Hong Kong yuan operations

The Hong Kong Monetary Authority is holding meetings this week with officials from the People's Bank of China, Dow Jones reported. Officials from PBOC will discuss what operations Hong Kong's banks can conduct on the yuan from next year.

PBOC signs cooperation agreement with HKMA

People's Bank of China governor Zhou Xiaochuan and Joseph Yam, Chief Executive of the Hong Kong Monetary Authority signed a cooperation memorandum for conducting renminbi (RMB) business in Hong Kong on Wednesday 19 November, according to the China Daily.

HKMA relocates its offices

The Hong Kong Monetary Authority (HKMA) announced on 18 November that it has officially relocated its offices to Two International Finance Centre (2 IFC). The office relocation is being undertaken in phases during the month of November.

HKMA moves to weaken Hong Kong dollar rate

The Hong Kong Monetary Authority continued selling HK dollars on Wednesday 12 October and buying about US$100 million, according to a report by Dow Jones. The move further weakened the HK dollar against the US dollar which was already declining following…

Destructive Ambiguity

The Hong Kong dollar was pegged twenty years ago in October 1983. HKMA Chief Joseph Yam said he was going to "hit them where it hurts", earning himself a short-term action-man nickname of "Yambo". This article from webb-site.com takes aim at what it…

Yam at the Australasian Macroeconomics Workshop

In his 'Opening Remarks at the 2003 Australasian Macroeconomics Workshop' given on 22 September, Joseph Yam of the Hong Kong Monetary Authority said the Asia-Pacific region needs more co-operation and exchange of ideas in the monetary and financial…

HKMA intervenes to defend currency peg

The Hong Kong Monetary Authority, according to Channel News Asia, has spent HK$300 million (US$40 million) defending its currency peg against speculators in the past week. Newly-appointed deputy chief William Ryback said it was comfortable with the…

HKMA and Insurance Authority sign MoU

The Hong Kong Monetary Authority and the Insurance Authority (IA) have signed a Memorandum of Understanding(MoU) which aims to enhance the co-operation, exchange of information and mutual assistance between the two authorities.

HKMA Quarterly Bulletin, September 2003

The Hong Kong Monetary Authority (HKMA) on September 15 published the latest issue of its Quarterly Bulletin. This issue contains feature articles including "The Profitability of the Banking Sector in Hong Kong" - analysing the evolution of profitability…

New Hong Kong banknotes

The Hong Kong Monetary Authority has announced the forthcoming issue of a new series of Hong Kong banknotes in 2003 and 2004. A number of advanced security features have been added to the new banknotes to enhance their anti-counterfeiting capabilities,…

HKMA signs memorandum of understanding

The Hong Kong Monetary Authority and the China Banking Regulatory Commission signed a Memorandum of Understanding on 25 August. The Agreement will allow the sharing of supervisory information.

HKMA's Yam at the HKIMR Summer Workshop 2003

In his Opening Remarks to the HKIMR Summer Workshop 2003 given on 27 August Joseph Yam of the Hong Kong Monetary Authority said the organisers have put together an interesting programme with three papers dealing with issues that are of current or…

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