The Hong Kong Monetary Authority (HKMA) is a government authority founded on April 1, 1993 in Hong Kong from the consolidation of the Office of the Exchange Fund and the Office of the Commissioner of Banking. It reports directly to the Financial Secretary.

Table of contents

1 Responsibilities of the HKMA 2 Policy Objectives of the HKMA 3 Chief Executive of the HKMA 4 Contact 5 External Links

Responsibilities of the HKMA

Apart from its main responsibility of ensuring monetary and banking stability, it plays important roles in maintaining the stability of the Hong Kong dollar, managing Hong Kong's official reserves, the Exchange Fund, in a way that is sound and effective, keeping Hong Kong's banking system safe and constructing the financial infrastructure of Hong Kong for the smooth and free flow of money in the territory. All these are governed by the Banking Ordinance and the Exchange Fund Ordinance.

Policy Objectives of the HKMA

By means of sound management of the Exchange Fund, operations of monetary policy and other suitable measures, the HKMA maintains currency stability under the linked exchange rate system through sound management of the Exchange Fund, monetary operations and other means deemed necessar. The strong official reserves of Hong Kong and the sound and robust banking system are parts of the important underpinnings of the Linked Exchange Rate System. Besides, in an attempt to ensure the safety and stability of the banking system, it not only regulates of banking business and deposits-taking business, but also monitors authorized institutions. What’s more, it promotes the efficiency, integrity and development of the financial system, with emphasis on the payment and settlement arrangements.

Mr Joseph Yam

Chief Executive of the HKMA

Mr Joseph Yam has been being the Chief Executive of the HKMA since its establishment in April 1993. And his office is now situated on the top floor of IFC II, which is served by an individual lift.

Contact

Address : Hong Kong Monetary Authority is 55/F,Two International Finance Centre, 8 Finance Street, Central, Hong Kong.
Telephone: (852) 2878 8196,(852) 2878 8203
Fax:(852) 2878 8197
E-mail: hkma@hkma.gov.hk (General Enquiry)
info_centre@hkma.gov.hk (Enquires about the Information Centre)
Transportation: (By MTR) Hong Kong Station, Exit A
(By bus) 4, 7, 11, 12, 25, 29R, 71, 90C, 91, 94, 511, 621, 681