Exchange Fund
The HKMA, under the delegated authority of the Financial Secretary and within the terms of the delegation, is responsible to the Financial Secretary for the use of the Exchange Fund, and for the investment management of the Exchange Fund.
The Exchange Fund's primary objective, as laid down in the Exchange Fund Ordinance, is to affect, either directly or indirectly, the exchange value of the currency of Hong Kong. The Fund may also be used to maintain the stability and integrity of Hong Kong's monetary and financial systems to help maintain Hong Kong as an international financial centre.
The activities of the HKMA during the year on the management of the Exchange Fund can be found in the Reserves Management chapter of the HKMA Annual Report.