HONG KONG MONETARY AUTHORITY Annual Report 1996
HONG KONG MONETARY AUTHORITY
Transparent Information Policy
In 1996, the Financial Secretary approved Hong Kong's subscription to the IMF Special Data Dissemination Standard and the inclusion of Hong Kong's economic data in the IMF International Financial Statistics. Both moves represented the HKMA's ongoing efforts to enhance transparency and public access to economic data by meeting the international standards expected from a leading international financial centre.
In 1996, the HKMA's Quarterly Bulletin became bilingual in order to reach a wider readership.The HKMA also published its first book in Chinese on Hong Kong's banking and monetary issues. In addition, a web site http://www.info.gov.hk/hkma on the Internet was launched to enable global access to information about the HKMA. A corporate video was also produced to enhance public understanding of HKMA's objectives and tasks.
CHALLENGES
The most immediate challenge for the future is the successful hosting of the World Bank/IMF Annual Meetings and to raise the profile of a stable and prosperous Hong Kong in the international financial community.
With the growth of financial markets in Asia, the HKMA seeks to widen the understanding of the need for improving financial intermediation in the region through greater central bank co-operation. To this end, the HKMA is taking part in discussions with other central banks on the potential role of an Asian Monetary Network to improve regional financial infrastructure and harmonize standards.
Confidence in Hong Kong's monetary and financial autonomy, and in the transparency and robustness of our financial and supervisory structure is vital for the future of Hong Kong.